Big techs facing antitrust investigation
Aug 26, 2019
lacortenews.com

Big techs facing antitrust investigation

Attorneys general in more than dozen states are preparing to launch an antitrust investigation into big tech companies as part of a bipartisan effort that seeks to determine whether they could potentially hurt the US economy, reported the Wall Street Journal.

The story: The news about an upcoming probe comes as tech giants, including Google, Apple, and Facebook, face federal scrutiny. Their prominence has raised concern among officials and citizens about their ability to use their dominant market position to curb competition, which could stifle innovation.

Critics: “It’s disappointing to see state AGs pursue this tech witch hunt. There is no case for antitrust. The marketplace is robust with competition and it’s incongruous that direct competitors can all simultaneously be monopolies...Antitrust enforcement is a tool to ensure competition, not a weapon to attack businesses you don’t like," NetChoice Vice President Carl Szabo told the Daily Caller.

Reputation Management Consultants Chairman Eric Schiffer implied that the current antitrust laws will make it difficult for the AGs to make their case and that they need to be changed.

"What needs to be curtailed by government are antitrust laws already in place that need to be revisited to make sure these companies operate in a way that allows for a more level playing field for entrepreneurs. … We’re in the dark ages. We’re trying to dominate against big tech companies that like to dominate,” he said.

Arkansas AG Leslie Rutledge said he is "focused on protecting Arkansas consumers and is considering what will be the best option for Arkansans.”

Google: Jose Castaneda, who works for Google's policy team, pointed to the director of economic policy's congressional testimony that took place on July 16, in which Adam Cohen described competition as "intense."

“We have created new competition in many sectors, and new competitive pressures often lead to concerns from rivals. We have consistently shown how our business is designed and operated to benefit our customers,” he added.

The DOJ is also conducting an antitrust review, spearheaded by AG William Barr, into market-leading online platforms.

Image courtesy of Creative Commons.

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