4 Big Tech CEOs getting heat from Congress on competition

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4 Big Tech CEOs getting heat from Congress on competition
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The CEOS of four Big Tech companies disputed accusations of stifling competition during a House committee hearing. But the heads of Facebook, Amazon, Google and Apple sometimes struggled to answer pointed questions about their business practices.

In its bipartisan investigation, the Judiciary subcommittee collected testimony from mid-level executives of the four firms, competitors and legal experts, and pored over more than a million internal documents from the companies. A key question: whether existing competition policies and century-old antitrust laws are adequate for overseeing the tech giants, or if new legislation and enforcement funding are needed.

He also said that in the wake of the coronavirus pandemic, “these giants stand to profit” and become even more powerful as millions shift more of their work and commerce online. Bezos introduced himself, in a way, in his hearing testimony, unusual for the occasion. He laid out his challenging life story growing up in New Mexico as the son of a single mother in high school, and later with an adoptive father who emigrated from Cuba at 16. In a blog post previewing his testimony, Bezos traced his origins as a “garage inventor” who came up with the concept of an online bookstore in 1994.

Zuckerberg has said the company aims to allow as much free expression as possible unless it causes imminent risk of specific harms or damage. “We believe in values — democracy, competition, inclusion and free expression — that the American economy was built on,” he said in prepared testimony. Attorneys general from both parties in 50 states and territories, led by Texas, launched an antitrust investigation of Google in September, focused on its online advertising business.

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