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Congressman Cicilline's Subcommittee Report on Big Tech
U.S. Congressman David Cicilline, Chair of the House Judiciary Committee's Subcommittee on Antitrust, issued a scathing report on the anticompetitive business models of America's four largest tech giants -- Apple, Facebook, Google, and Amazon.
Now, it needs to take action. Reports sit of shelves, will this translate to regulatory or legislative action?
“To put it simply, companies that once were scrappy, underdog startups that challenged the status quo have become the kinds of monopolies we last saw in the era of oil barons and railroad tycoons," said Cicilline in his subcommittee's 450-page report.
Cicilline writes in the report, “Although these four corporations differ in important ways, studying their business practices has revealed common problems. First, each platform now serves as a gatekeeper over a key channel of distribution. By controlling access to markets, these giants can pick winners and losers throughout our economy. They not only wield tremendous power, but they also abuse it by charging exorbitant fees, imposing oppressive contract terms, and extracting valuable data from the people and businesses that rely on them. Second, each platform uses its gatekeeper position to maintain its market power."