Mark Zuckerberg said that Facebook faces 'intense competition,' defending against allegations that the social media company has hurt competitors with its business practices $FB
WASHINGTON - Google and Facebook took particularly sharp jabs for alleged abuse of their market power from Democrats and Republicans on Wednesday in a much-anticipated congressional hearing that put four of America’s most prominent tech CEOs in the hot seat.
Facebook Inc’s Mark Zuckerberg, Amazon.com Inc’s Jeff Bezos, Google owner Alphabet Inc’s Sundar Pichai and Apple Inc’s Tim Cook - whose companies have a combined market value of about $5 trillion - parried a range of accusations that they crippled smaller rivals in their quest for market share. Pichai, CEO of both Alphabet and Google, took the most heat from conservatives on the panel and looked the worse for it, as he repeatedly told lawmakers he would be happy to look into various situations and get back to them.
Lawmakers descended into shouting at each other at points, with a pandemic twist. One yelled: “Put your mask on!”Cicilline set the tone for the hearing when he began by accusing Google of theft. “Why does Google steal content from honest businesses?” he asked. He alleged Google stole reviews from Yelp Inc and threatened to delist Yelp from search results if it objected.
Zuckerberg responded that Instagram at the time was a tiny photo-sharing app rather than a social-media phenomenon. Jayapal pressed Amazon’s Bezos on whether the company used data from third-party sellers in making sales decisions. An Amazon executive previously had denied the practice under oath and was contradicted by a news report.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Facebook, Google absorb U.S. lawmakers' jabs in rare Big Tech hearingGoogle and Facebook took the sharpest jabs for alleged abuse of their market power from Democrats and Republicans on Wednesday in a much-anticipated congressional hearing https://www.youtube.com/watch?v=WBFDQvIrWYM&feature=emb_logo with four of America's most prominent tech CEOs in the hot seat.
Read more »
As Tech Giants Face Congress, Here’s What Americans Actually Think Of Big TechMost Americans don’t trust big tech companies—but they’re not sure if the government should be breaking them up.
Read more »
Read: Tech CEOs' opening statements for Wednesday's tech antitrust hearingThe CEOs of Facebook, Amazon, Alphabet and Apple will testify at a House hearing today. Read their opening statements here 👇
Read more »
Microsoft co-founder Bill Gates talks Covid-19 testing, the vaccine race and Big Tech competitionMicrosoft co-founder Bill Gates sat down with CNBC's 'Squawk Box' to discuss his thoughts on the delay in Covid-19 testing results, the state of coronavirus vaccines and how regulation will impact Big Tech companies.
Read more »
Four big tech bosses to testify before US CongressAmazon's Jeff Bezos, Facebook’s Mark Zuckerberg, Google’s Sundar Pichai and Apple's Tim Cook to answer for their companies’ practices before Congress for the first time as a group
Read more »
Congress looks to prove it can keep Big Tech in checkThe questions at Wednesday’s Capitol Hill hearing of four of the most powerful tech CEOs will be focused on the moguls. But lawmakers also have plenty to prove
Read more »