For more than five hours the House Judiciary committee questioned Big Tech’s marquee executives over anticompetitive practices.
For more than five hours on Wednesday, the House Judiciary committee indulged itself in questioning Big Tech’s marquee executives over anticompetitive practices. But the biggest question still hangs in the balance: What will Congress do to address these issues?
None of that is surprising. What might be is that House representatives, after an investigation that stretched back more than a year, finally seem to realize this, too. “Facebook is the world’s largest provider of social networking services with a business model that sells digital ads. Despite a litany of privacy scandals and record-breaking fines, Facebook continues to enjoy booming profits $18 billion last year alone.
Some of the ceo’s tried to argue that they still face steep competition. In Jeff Bezos’ opening statement, he pointedly listed Amazon’s market competitors, and when it came to Walmart, he noted that it’s “more than twice Amazon’s size” with first-quarter online sales that jumped 74 percent. Facebook founder and chief executive officer Mark Zuckerberg took up the competition argument as well, explaining that “our services are about connecting people and our business model is advertising, and we face intense competition in both.”For instance, on mobile, Facebook and its family of apps rely on distribution through Google Play and Apple’s App Store, whose owners also run most of their key rivals. “The most popular messaging service in the U.S.
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