The Antitrust Hearings against big tech will drop the Hammer next Month with a finding that all Players investigated abused their Market Power
On July 29, Patentlly Apple posted a report titled "In today's Antitrust Hearing, Alphabet, Facebook, Amazon & Apple were grilled on their Monopolistic Behavior." One of the big highlights of that hearing was Mark Zuckerberg getting hammered over acquiring Instagram to quash a competitor. Today Representative David Cicilline, the Democrat leading the high-profile investigation into technology giants, once again zeroed in on Facebook by commenting that Facebook's other acquisition of WhatsApple in 2014 should have never been approved by the FTC.
Clearly Facebook is bound to be one of the biggest losers when the House Antitrust panel issues its report as soon as next month, which would allow them to offer legislative proposals in this session of Congress.
Today Cicilline went out of his way to state that all of the tech companies in the investigation were guilty. Cicilline said in an interview that his inquiry has confirmed that Alphabet Inc.’s Google, Apple Inc., Amazon and Facebook are abusing their market power to crush competitors and that Congress must act urgently to rein them in to protect consumers, bloomberg reported.
More specifically, Cicilline stated that "All of these companies engage in behavior which is deeply disturbing and requires Congress to take action." Cicilline added that "The kind of common theme is the abuse of their market power to maintain their market dominance, to crush competitors, to exclude folks from their platform and to earn monopoly rents."
Cicilline’s comments were he most extensive yet on where his committee is focused as it nears the end of its year-long investigation. While he declined to go into detail about the panel’s recommendations, Cicilline said he is working to find common ground with Republicans on the "biggest, boldest ideas I can."
The committee’s report will address four broad areas, he said: changes to existing antitrust laws passed more than a century ago; reforms aimed specifically at the tech sector; strengthening private antitrust litigation by plaintiffs; and ensuring antitrust watchdogs at the Justice Department and the Federal Trade Commission have the resources to do their jobs and are staffed by aggressive enforcers. For more, read the full Bloomberg report.