The Federal Trade Commission and 17 state attorneys general sued Amazon on Tuesday for allegedly using its power as a monopoly to illegally block competition and inflate prices.
“The complaint alleges that Amazon violates the law not because it is big, but because it engages in a course of exclusionary conduct that prevents current competitors from growing and new competitors from emerging,” the FTC said in an announcement about the complaint against Amazon.
Read More
With persistent inflation and growing concerns over a recession, pundits, policymakers, and the president have expressed concern about an alleged lack of competition lurking in the dark corners of the U.S. economy. As President Biden himself said, “capitalism without competition isn’t capitalism, it’s exploitation.” From Big Tech to baby food, both sides of the aisle are on the lookout for monopoly power. But sometimes the best place to hide is in plain sight.
Read More
Google has offered to break apart in a bid to avoid greater punishment for antitrust violations from federal regulators, The Wall Street Journal reported Friday.
The tech giant has raised the prospect of separating a major business operation off from Google—the auctioning and placing of online advertisements—to form a separate entity also under the umbrella of Google’s parent company, Alphabet, people close to Google reportedly told the WSJ. It was unclear if the offer would satisfy the Department of Justice (DOJ), which declined to comment on the story, according to the WSJ.
Read More
When the far-right website Infowars was banned by all the major tech platforms in 2018, mainstream media outlets didn’t come to the defense of founder Alex Jones, whom they described as a conspiracy theorist.
Two years later, the same outlets had a similar non-response when Big Tech imposed another media ban — this one on the New York Post, one of America’s oldest and most well-established newspapers.
Read More
Republican Arkansas Sen. Tom Cotton and Democratic Minnesota Sen. Amy Klobuchar unveiled a bipartisan bill Friday intended to restrict how major tech companies acquire and merge with smaller firms.
The bill, titled the Platform Competition and Opportunity Act, is a companion to antitrust legislation advanced out of the House Judiciary Committee in June. If enacted, the law would shift the burden in antitrust cases to the acquiring party for mergers greater than $50 million, meaning that the acquiring firm would have to prove that its acquisition of another company was not anti-competitive.
The bill explicitly targets Big Tech companies, and it applies to firms with market capitalizations over $600 billion, at least 50,000,000 U.S.-based monthly active users or 100,000 monthly active business users. This would include Amazon, Google, Facebook and Apple.
Read More