The United States is talking about dismantling the technology giant the end of the era of self-regulation

category:Finance
 The United States is talking about dismantling the technology giant the end of the era of self-regulation


Before the Justice Departments statement, the two chambers of Congress just completed a number of investigative hearings on Anti-monopoly of large technology companies last week. During these hearings, Google was accused of adding a lot of false business information to the map, Amazon was accused of being too close to third-party vendors on the platform, and Facebook was tortured by members of Congress for two days for wanting to enter the Libra project developed by the financial industry.

David Cicilline, a Democrat of New Jersey and chairman of the House Judicial Committees antitrust group, wrote to the CEOs of Facebook, Oracle and Amazon this week accusing them of flickering testimony to Congress. Sicilini asked these companies to provide clearer answers to their business operations. Sicilini said they were going to conduct a top-down thorough survey of technology platforms.

Members of Congress have pointed out that it is worrying that big technology companies are taking over more and more economic power. Its worrying that there are no guarantees of economic power in the hands of a few people. Speaker of the House of Representatives Pelosi said in his personal tweet that antitrust investigations against big technology companies are long overdue. The era of self-regulation is over, Pelosi said.

Monopoly power faced by large technology companies is a major economic and political problem in our country. In the past four years, anti-monopoly investigations have been very weak. Congress should take action. Congress should take concrete actions to examine whether existing laws are sufficient to solve the monopoly crisis of large technology companies or whether we need new legislation, Sicilini said.

Source: First Financial Responsibility Editor: Guo Chenqi_NBJ9931