A House of Representatives panel in a report Tuesday accused four Big Tech firms of acting as “monopolies,” calling for sweeping changes to antitrust laws and enforcement that could potentially lead to breakups of the giant firms.
But the report by the House Judiciary Committee failed to win the endorsement of Republican members, highlighting a partisan divide despite widespread criticism of the tech giants.
The 449-page document concluded that Amazon, Apple, Facebook and Google “engage in a form of their own private quasi regulation that is unaccountable to anyone but themselves.”
“Companies that once were scrappy, underdog startups that challenged the status quo have become the kinds of monopolies we last saw in the era of oil barons and railroad tycoons,” the report said.
The report follows an investigation of more than 15 months and hearings this year with the top executives of the four firms, in parallel to antitrust
(Reuters) – A U.S. House of Representatives panel looking into abuses of market power by four of the biggest technology companies found they used “killer acquisitions” to smite rivals, charged exorbitant fees and forced small businesses into “oppressive” contracts in the name of profit.
The antitrust subcommittee of the Judiciary Committee recommended that Alphabet Inc’s GOOGL.O Google, Apple Inc AAPL.O, Amazon.com AMZN.O and Facebook FB.O should not both control and compete in related businesses, but stopped short of saying a specific company should be broken up.
The scathing 449-page report described dozens of instances where the companies misused their power, revealing corporate cultures apparently bent on doing what they could to maintain dominance over large portions of the internet.
“To put it simply, companies that once were scrappy, underdog startups that challenged the status quo have become the kinds of monopolies we last saw