Trending

Stories

U.S. Justice Department to Start Antitrust Review of Tech-giants

Tidio Live Chat Software - Add Tidio live chat software to your website in minutes. Contact visitors and turn them into happy customers. Enhance their experience and boost your sales. Get it for Free

WP Rocket - WordPress Caching Plugin

Must Read

Bhaswati Sarkar
Bhaswati Sarkar
She is a feminist pursuing a M.A. degree. She likes to lose herself in music and daydreams quite often. Travelling excites her and photography is her passion- nature is her favorite subject. Writing is cathartic for her. A happy-go-lucky kind of person, she tries to remain calm and serene through daily life.

The Justice Department of the United States Federal Government has taken a decision to start an antitrust review of some of the technological mammoths of the world. This comes as a reaction to the growing discontent against some of the world’s biggest technology companies. Lawmakers and regulators have cooperatively been raising questions about Amazon, Apple, Facebook, and Google.

The antitrust review would investigate how such companies had accumulated market power and whether they had taken any unfair move to reduce competition, and especially examine whether they have harmed consumers. Such inquiries have also been posed by Congress and Federal Trade Commission.

Without the discipline of meaningful market-based competition, digital platforms may act in ways that are not responsive to consumer demands.The department’s antitrust review will explore these important issues – Makan Delrahim, head of the Justice Department’s antitrust division

Also Read

Earlier, it was generally agreed that companies focused on consumer welfare, such as those offering lower prices or free services, did not have much reason to attract federal intervention. Google and Facebook, which provide free services, were not considered as requiring federal antitrust inspection. In recent times, however, many have raised concerns over the reach and the influence of internet giants like Amazon, Apple, Facebook, and Google.

David Cicilline who is a Democrat of Rhode Island and leads a subcommittee on antitrust law is of the opinion that the government has celebrated the new tech economy more than focusing on scrutinizing its corporate leaders.

Congress and antitrust enforcers allowed these firms to regulate themselves with little oversight. As a result, the internet has become increasingly concentrated, less open and growingly hostile to innovation and entrepreneurship – David Cicilline, Representative, Democrat of Rhode

Elegant Themes - The most popular WordPress theme in the world and the ultimate WordPress Page Builder. Get a 30-day money-back guarantee. Get it for Free

The Justice Department has recently been consulting tech industry experts in confidential meetings to learn the harmful potential of tech companies. It has not named any specific companies while announcing the review. Still, it has stated that it would scrutinize the disquiet raised about social media, search and some retail services- this may indicate that it may possibly have its eye on Facebook, Google, and Amazon.

Attorney General William P. Barr has insisted that technology companies stop using advanced encryption and other security measures that transform devices into “law-free zones“. He might have indicated Apple and its iPhones through his remark.

I think we should be scrutinized. But if you look at any kind of measure about ‘is Apple a monopoly or not,’ I don’t think anybody reasonable is going to come to the conclusion that Apple’s a monopoly – Timothy D. Cook, CEO, Apple

Sam Weinstein, a former antitrust official at the Justice Department and a professor at Cardozo Law School, found it unusual that the Justice Department announced its decision to execute an antitrust review instead of carrying it out under wraps as it usually does.

Weinstein thinks that this announcement might have been made to show consumers that it is taking active action against the disquiet raised over the growing power and influence of tech giants and also to ensure that competitors are aware that complaints against such companies would be received well.

He said, “There is a lot of criticism of the agencies that they are not doing enough about big tech and this is a way to respond to that criticism.”

It has also been found that while major American technology companies have been able to fight shy of antitrust scrutiny to a great extent in the U.S., they have faced aggressive investigation around the world, especially in Europe. Earlier this year, Google was fined 1.5 billion euros by European authorities for antitrust violations in the online advertising market, and this was the third fine against Google by the European Union since 2017.

iThemes WordPress Hosting

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.

Latest

Stories

- Advertisement -
- Advertisement -

Latest

Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

- Advertisement -

Grow Your Business

Get these business solutions, tools and services to help your business grow.
Elementor

Elementor -Join 5,000,000+ Professionals Who Build Better Sites With Elementor. Build your website with 100% visual design that loads faster and speeds up the process of building them.

WP Rocket

WP Rocket - Speed up your website with the most powerful caching plugin in the world. The website speed increase means better SEO ranking, user experience, and conversation. It’s a fact that Google loves a fast site.

Kinsta

Kinsta - If you are looking for WordPress managed hosting, Kinsta is in the leading front. Kinsta provides WordPress hosting for a small or large business that helps take care of all your needs regarding your website with cutting-edge technology.

OptinMonster

OptinMonster - Instantly boost leads and grow revenue with the #1 most powerful conversion optimization toolkit in the world. 700,000+ websites are using OptinMonster to turn their traffic into leads, subscribers, and sales.

Related

- Advertisement -
- Advertisement -
Microsoft’s Teams Get OpenAI-Based Features WhatsApp New Feature that Allows Users to Create Calling Shortcuts Instagram Working On Twitter-like Paid Verification Feature OnePlus Ace 2 Specs Exposed Online Realme GT Neo 5 Full Specs Revealed  Samsung Galaxy S23 Ultra: The New Android King Twitter To End Free API February 9 MLS Season Pass Now Available On Apple TV App Tesla To Increase Giga Shanghai EV Production to 20,000 Weekly  OpenAI Releases Tool To Detect AI-generated Text
Tesla Records Double Net Profit in 2022 India to Produce Upcoming iPhones: Trade Minister Japanese Professor Developed A Power Semiconductor made of Diamond Google Releases New Product for India’s Merchants Indian EV Startup Unveil Two AutoBalancing Electric Scooters OPPO Find X6 Pro Images Render via Weibo Sony Develops New Tech to Reduce Noise of Image Sensors Tesla’s S & Y Models Earn Best-in-Class Cars of 2022