US tech giants have taken advantage of their dominance to eradicate competition and stifle innovation, according to the findings of a House panel led by Democratic lawmakers, who asked the US Congress to force these companies. to separate their internet platforms from other lines of business.
The report, released Tuesday by the Democratic staff of the House Competition Subcommittee, came after a 16-month investigation of the market power of Amazon.com Inc (AMZN), Facebook Inc (FB), Google, owned from Alphabet Inc (GOOGL) and Apple Inc (AAPL). Republicans have not supported the resolution should be clarified.
The report argues that these four companies have squeezed their power “even to be more dominant” and that the situation is reminiscent of previous experiences, according to this committee, with oil barons or railroad magnates.
During the course of the investigation, 1.3 million documents have been studied and more than 300 interventions have been carried out. In addition, last July, Mark Zuckerberg (Facebook), Jeff Bezos (Amazon), Sundar Pichai (Google) and Tim Cook (Apple) appeared before the committee.
Even being part of different electronic businesses, says the report, these four companies share the same dilemma, fundamentally in regard to distribution. By controlling access to markets, these giants “can pick winners and losers” in our economy, charging exorbitant fees, imposing tough contracts, and extracting tremendously important business and personal data.