Congress : Technology giants have a lot of influence

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The president of the US Congress's Antitrust Committee said on Wednesday that Amazon, Apple, Google and Facebook are very strong and are likely to emerge from the Corona virus (Covid-19) pandemic stronger.

"Simply put, they have a lot of leverage," said David Cicillin, chairman of the House Monopoly Subcommittee, at the opening of an unprecedented hearing involving the chief executives of the four giants.

"Whether through self-preference, pricing competition, or requiring users to purchase additional products, the dominant platforms have used their power in destructive and harmful ways for expansion," added Cecilin, a Democrat from Rhode Island.

Sensenbrenner noted that technology giants were pivotal to the new lifestyles imposed on people during the epidemic, but added that as leverage increases, scrutiny comes.

 

"Being a giant is not a bad thing by nature. Quite the contrary, in the United States you have to be rewarded for success," said Sinsenbrenner.

"I want to leave here today with a more complete picture of how companies use your size and influence," Sensensbrenner said.

On Wednesday, US President Donald Trump threatened to take executive action if House members did not pass legislation on technology companies.

Trump's threat came this evening, Wednesday, before the hearing that started in the US Congress, with the heads of four of the world's largest technology companies.

"If Congress does not achieve equity in terms of tech giants, which they should have done years ago, I will do it myself with executive orders," Trump said in a tweet on Twitter.

"In Washington, the whole thing was limited to talking, and no action was taken for years, and the people of our country are tired of this situation!"