Capitol Hill to witness key antitrust hearings next week

Representatives from tech giants, such as from Google, Amazon, Apple and Facebook, are set to testify before a House of Representatives congressional committee on June 16. The The hearing will discuss the formidable market power wielded by online platforms.

In a significant development, according to a statement from the House Judiciary Committee’s antitrust subcommittee witnesses, including Adam Cohen, Google’s director of economic policy; Nate Sutton, Amazon’s associate general counsel for regulation; Matt Perault, Facebook’s head of global policy development and Kyle Andeer, Apple’s vice president for corporate law, are set to testify before a House of Representatives congressional committee next week

The hearing, to be held on July 16, will discuss the formidable market power wielded by online platforms.

In a separate development, a subcommittee of the Senate judiciary panel stated, it is also scheduled to hold a hearing on July 16. It was not immediately clear who would attend.

These hearings come in the wake of the House Judiciary Committee probing competition in digital markets as part of an investigation that was announced in June, with both Democrats and Republicans expressing deep concern about the power exercised by several of the world’s most valuable companies.

Already the Justice Department is probing both Google and Apple while the FTC is probing Amazon and Facebook.

Although both Republicans and Democrats have expressed exasperation with the big tech giants, they have different reasons.

Presidential candidate Elizabeth Warren has also on Amazon, Google and Facebook to sell companies that they had purchased acquired as a way to address competition concerns.

Facebook is expected to cough up $5 billion in penalties for its collaboration with British consultancy firm Cambridge Analytica, which obtained data from millions of Facebook users without their permission.

Cambridge Analytica was hired by President Donald Trump for his 2016 U.S. presidential election campaign.

Social media and technology executives have been called to testify before lawmakers in high-profile hearings on various subjects over the past two years, including on foreign influence operations on their platforms.

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Categories: Creativity, Entrepreneurship, HR & Organization, Regulations & Legal, Strategy

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