Companies Highlights News Tech

The US Department of Justice officially launched an anti-monopoly investigation of large technology companies

The US Department of Justice said in a statement that the review will focus on “How market-leading online platforms gain market power, whether there is behavior to reduce competition, inhibit innovation or otherwise harm consumers’ interests.”

According to foreign media reports, the US Justice Department said on Tuesday that it will conduct extensive investigations into large technology companies. This is to determine whether they are engaged in anti-competitive behavior. This is the strongest sign that the Trump administration has increased its review of large technology companies.

The US Department of Justice said in a statement that the review will focus on “how market-leading online platforms gain market power, whether there is behavior to reduce competition, inhibit innovation or otherwise harm consumers’ interests.”

The US Department of Justice did not mention a specific company. However, they said the review would focus on increasing concerns in the areas of search, social media and some online retail services. This obviously refers to Alphabet, Amazon and Facebook, as well as potential Apple.

A US Department of Justice spokesperson declined to announce the list of companies that will be censored. Google and Apple declined to comment, while Facebook and Amazon did not immediately comment. In after-hours trading, Facebook fell 1.7%, Alphabet fell 1%, Amazon fell 1.2%, and Apple fell 0.4%.

The day before the announcement, the Federal Trade Commission announced that it would impose a $5 billion fine on Facebook, which failed to properly protect user privacy.

Democratic senator Richard Blumenthal said the US Department of Justice “must be bold and fearless to prevent huge technology companies from abusing their monopoly power. Because of the long absences and indifference, law enforcement are now Infringement of privacy, anti-competitive strategies, barriers to innovation, and other excessive market powers must be prevented.”

In June, there were reports that the Trump administration was stepping up investigations into whether Amazon, Apple, Facebook and Alphabet’s Google had abused their huge market influence, which could be an unprecedented and extensive survey of some of the world’s largest companies.

A person familiar with the matter said that the main participants in the judicial review may also include some state attorneys.

The US Department of Justice said the review “is aimed at objectively and fairly assessing the competitive conditions in the online market and ensuring that Americans can enter a free market. In this market, companies can compete according to their own advantages and provide whatever service that users want.”

In May, it was reported that the US Department of Justice was preparing to investigate Google to determine whether the technology giant violated antitrust laws.

The US Congress has expressed increasing concerns about the size of large technology companies and their market influence. Democratic presidential candidate Elizabeth Warren called for the splitting of companies such as Amazon, Apple, Google and Facebook and the abolition of previous acquisitions.

Last week, the antitrust group of the US House Judiciary Committee put pressure on their executives on the behavior of the four companies and pointed out that Google, Facebook and Amazon’s share in key markets is rising.

The US Congress held a series of hearings last year to discuss the market dominance of large technology companies and their role in replacing or annexing existing businesses. The government rarely seeks to revoke transactions that have already been made. The most famous case in recent years is the government’s attempt to split Microsoft. The Ministry of Justice won an initial victory in 2000 but was overturned on appeal. In the end, the case reached a complete settlement with Microsoft.

David Cicilline, chairman of the committee and a member of the Democratic Party, said: “Venture investors and start-ups agree that there is a so-called ‘blocking zone’ around Google, Amazon, Facebook and Apple that blocks startups entering the market with innovative products and services to challenge these established companies.”

Apple CEO Tim Cook said last month that the review was fair, but “if you look at any metric, I don’t think anyone will come to the conclusion of Apple’s monopoly.” “Our The market share is much smaller. We have no advantage in any market.”

Google’s Adam Cohen told the House Judiciary Subcommittee last week that the company “created new competition in many areas, and new competitive pressures often led to competitors’ concerns.”

As competitors, parliamentarians, and consumer groups worry that technology companies have too much power to harm the interests of users and commercial competitors, technology companies are attracting more and more opposition in the US and around the world.

US President Trump called for a more rigorous review of social media companies and Google, accusing them of suppressing conservative voices without providing any evidence.

Republican Senator Marsha Blackburn praised the survey and said that a Senate technical working group she led will focus on how to “cultivate free markets and competition.”

Related posts

Amazon, Google, Apple voice assistant “eavesdrop” create Chaos. Europe and the United States open investigations

njoo

Mac computer exploded! Apple urgently recalls a large number of MacBook Pros

njoo

How does Microsoft’s market value surpass that of Apple and Amazon?

njoo

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More