It’s no accident that Apple, Amazon, Alphabet and Facebook are four of the seven biggest companies in the world by market value. — AFP
Monopoly power is a good gig if you can get it. The trouble is keeping lawmakers from knocking on your door.
Tech titans Apple Inc, Amazon.com Inc, Facebook Inc and Google parent Alphabet Inc managed to do just that until last week, when a House subcommittee summoned the chief executive officers of the four companies. Lawmakers took a dim view of the tech giants’ grip on their respective industries. "These companies as they exist today have monopoly power,” said Representative David Cicilline of Rhode Island, who leads the House investigation into the companies. His prescription: "Some need to be broken up, all need to be heavily regulated.” The sentiment appeared to be shared widely.
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