Sen. Elizabeth Warren unveiled a plan Friday to break up massive technology companies such as Amazon and Facebook, the clearest proposal yet in the 2020 presidential race to limit the growth of Silicon Valley.
div > div.group > p:first-child"> In a blog post, the Democratic presidential hopeful from Massachusetts wrote that she wants to make"big, structural changes to the tech sector to promote more competition." Those overhauls would include"breaking up" Amazon, Facebook and Google — companies that have come under scrutiny for user data security and consolidation of services such as e-commerce and digital advertising.
Warren's proposal comes as pockets of the 2020 Democratic primary field have called for more drastic action to protect consumers and workers from what they call Silicon Valley abuses. Sen. Amy Klobuchar, D-Minn., has floated legislation to protect consumer data amid concerns about what user information Facebook shares with third-party companies.
Various parties would have the right to sue over the violation of those rules. A company in violation would have to pay a fine worth 5 percent of annual revenue. "Here's what will change: Small businesses would have a fair shot to sell their products on Amazon without the fear of Amazon pushing them out of business," Warren wrote."Google couldn't smother competitors by demoting their products on Google Search. Facebook would face real pressure from Instagram and WhatsApp to improve the user experience and protect our privacy. Tech entrepreneurs would have a fighting chance to compete against the tech giants.
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