While Congress has Big Tech in its crosshairs, that doesn’t mean any of the bills targeting Silicon Valley actually will become law soon, according Capital...
While Congress has Big Tech in its crosshairs, that doesn’t mean any of the bills targeting Silicon Valley actually will become law soon, according to analysts at Capital Alpha Partners.
Twenty bills aimed at technology companies have been introduced in the Republican-controlled Senate alone this year, addressing privacy, censorship, security, algorithms, facial recognition, children’s issues and many other matters, said Capital Alpha’s Robert Kaminski and Christopher Eyestone in a note Thursday. ‘To us, these bills demonstrate our “chaos theory” of Big Tech: The existence of so many disparate critiques complicates making progress on any one issue.
To be sure, Silicon Valley’s titans face increased scrutiny not just from the divided Congress, but also from the Trump administration’s Justice Department and the Federal Trade Commission, which launched antitrust investigations earlier this year.
Among the big tech stocks, Facebook Inc.’s shares FB, +0.22% have gained 46% this year, Amazon.com Inc. AMZN, -0.13% has advanced 19%, Apple Inc. AAPL, +0.27% is up 64% and Google parent Alphabet Inc. GOOG, +0.19% GOOGL, +0.16% is higher by 26%. Meanwhile, the broad S&P 500 index SPX, +0.26% has added 23%.And see: Why the Facebook political-ads debate could be a windfall for legacy media
Victor Reklaitis Victor Reklaitis is MarketWatch's Money & Politics reporter and is based in Washington, D.C. Follow him on Twitter @VicRek.Comment #div-gpt-ad-1569967089584-0 > div > iframe { width: 100% !important; min-width: 300px; max-width: 800px; }
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