House lawmakers say Facebook, Google, Apple, and Amazon are monopolies that need to be more heavily regulated “” and potentially broken up

  • Date: 07-Oct-2020
  • Source: Business Insider
  • Sector:Economy
  • Country:GCC
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House lawmakers say Facebook, Google, Apple, and Amazon are monopolies that need to be more heavily regulated “” and potentially broken up

House Democrats said Amazon, Apple, Facebook, and Google have monopoly power that gives them unfair market advantages and proposed sweeping changes in a sprawling 449-page report published Tuesday.

The report came on the heels of a yearslong antitrust investigation that culminated with testimony from the CEOs of the four companies before Congress in July. It lambastes the CEOs for being "evasive and non-responsive" during the testimony.

The report singles out Facebook's array of popular social media apps, Google's dominance in search, Amazon's control of its marketplace, and Apple's control over its iOS App Store as potentially monopolistic functions that should be more heavily regulated or potentially separated.

Republicans issued a response that endorsed some aspects of the report, but disagreed with the recommendation to separate parts of the companies or block acquisitions.

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