US Lawmakers Target Internet Giants

An expansive set of antitrust reforms were introduced in the US House of Representatives today by a bipartisan group of lawmakers. These target Amazon, Apple, Facebook, and Google to make it more difficult to leverage their dominant positions to complete mergers or own companies that create conflicts of interest. This is a package of five bills, which would need to pass votes in the Judiciary Committee, the full House, and the Senate and be signed by the president before becoming laws (who said watching cartoons isn't educational?). CNBC explains:
The measures come in the wake of a lengthy investigation by the House Judiciary subcommittee on antitrust into the four companies that was completed last year.

The panel found at the time that Amazon, Apple, Facebook and Google hold monopoly power and that antitrust laws should be revised to better deal with the unique challenges of competition in digital markets.

While Democrats and Republicans diverged on some of the solutions, they mostly agreed on the alleged competitive harm and that reform was necessary to reinvigorate the markets.
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Re: US Lawmakers Target Internet Giants
Jun 13, 2021, 10:51
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Re: US Lawmakers Target Internet Giants Jun 13, 2021, 10:51
Jun 13, 2021, 10:51
 
jacobvandy wrote on Jun 12, 2021, 05:02:
jdreyer wrote on Jun 11, 2021, 20:24:
They forgot to add Disney (and about a dozen others I can think of off the top of my head). I guess these guys didn't donate to enough congressional campaigns.

In 2020:

Alphabet ranked #18 in contributions, #19 in lobbying
Amazon ranked #51 in contributions, #9 in lobbying
Facebook ranked #72 in contributions, #10 in lobbying
Apple ranked #64 in contributions, #54 in lobbying

Microsoft ranked #24 in contributions, #32 in lobbying
Disney ranked #28 in contributions, #111 in lobbying
AT&T ranked #27 in contributions, #17 in lobbying
Comcast ranked #36 in contributions, #15 in lobbying
Verizon ranked #126 in contributions, #24 in lobbying
Intel ranked #174 in contributions, #91 in lobbying
Sony ranked #377 in contributions, #248 in lobbying
Samsung ranked #970 in contributions, #159 in lobbying
NVIDIA ranked #639 in contributions, $0 in lobbying
Valve ranked #1,251 in contributions, $0 in lobbying
Nintendo ranked #7,158 in contributions, $0 in lobbying

Check more at: https://www.opensecrets.org/search

Kudos to Rep. Jayapal from WA, sponsoring the "Ending Platform Monopolies Act" when her top 5 contributors include Microsoft, Valve, and Amazon. That's chutzpah!
Or, as is more likely, those companies recognize some government action is inevitable (due to public sentiment) and want someone they own to be "spearheading" the effort. That's the way regulatory capture works...
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