Today's big tech hearing is set to be a bizarre spectacle: 4 men who run companies worth nearly $5 trillion combined — and who include 2 of the world's richest individuals — primed to argue that their businesses are really not that powerful after all.https://t.co/UR0YNVDK62— The New York Times (@nytimes) July 29, 2020
Jeff Bezos of Amazon, Tim Cook of Apple, Mark Zuckerberg of Facebook and Sundar Pichai of Google will testify via video call before Congress, due to their companies being under investigation by lawmakers.
The congressional investigation is part of a larger backlash among lawmakers and law enforcement officials against the power and reach of large tech companies. The Justice Department is said to be preparing to bring an antitrust case against Google this year, while the Federal Trade Commission is pursuing its own inquiry into Facebook’s acquisition of nascent competitors.
These 4 men run companies worth nearly $5 trillion combined (including 2 of the world's richest individuals) are to argue that their businesses are really not that powerful.
The European Union is also preparing antitrust charges against Amazon over accusations it drew data from third-party merchants to build its own business for generic products.
Zuckerberg plans to emphasize Facebook’s value in connecting people and supporting businesses during the pandemic.