In DC, Anti-Trust Hearing for Big Tech
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US Congressional Anti-Trust Hearings
This news broke a few moments ago. Next week, in Washington, DC, there will be a Congressional hearing concerning alleged anti-trust matters related to some of the biggest technology companies in the world. The stakes for this Congressional hearing are big. It's all about the tremendous market power that Amazon, Apple, Google and Facebook wield. On July 16 top executives from those four companies will testify and answer questions on Capitol Hill.
The hearing will be held by the House Judiciary Committee's Anti-Trust Subcommittee. The House Judiciary Committee is investigating the extent of competition in digital markets. Both Democrats and Republicans are concerned about the power exercised by these companies, that are some of the world's most valuable and innovative. There are multiple investigations currently underway into anti-trust. The US Justice Department is looking at Apple and Google. And the Federal Trade Commission is looking at Amazon and Facebook.
This summer is shaping up to be a Washington, DC showdown with Big Tech. The witnesses at next week's hearing include Facebook's Head of Global Policy Development and Google's Director of Economic Policy. Top lawyers from Amazon and Apple will also testify.