{"id":505,"date":"2021-06-13T08:42:20","date_gmt":"2021-06-13T08:42:20","guid":{"rendered":"https:\/\/ancstockinvestments.com\/blog\/?p=505"},"modified":"2021-08-11T17:24:31","modified_gmt":"2021-08-11T17:24:31","slug":"new-set-drop-antitrust-bills-weaken-big-tech-dominance","status":"publish","type":"post","link":"https:\/\/ancstockinvestments.com\/blog\/2021\/06\/13\/new-set-drop-antitrust-bills-weaken-big-tech-dominance\/","title":{"rendered":"New Set of Antitrust Bills to Weaken Big Tech\u2019s Dominance"},"content":{"rendered":"\n

A group of House lawmakers dropped five antitrust bills designed to put some speed limits on the tech industry\u2019s grip on the economy. <\/p>\n\n\n\n

In what is poised to become the most ambitious update to monopoly laws in decades, the bills take direct aim at tech\u2019s biggest players: Amazon<\/a>, Apple<\/a>, Facebook<\/a>, and Google<\/a> and their power on e-commerce, information, and entertainment. <\/p>\n\n\n\n

\"House
Image Credit: Morning Brew<\/figcaption><\/figure>\n\n\n\n

These juggernauts have a combined market capitalization of $6.4 trillion and collectively represent Big Tech\u2019s domination across the world.<\/p>\n\n\n\n

Why it matters<\/strong><\/h2>\n\n\n\n

This is Congress\u2019s biggest effort yet to make Big Tech \u2018Small Tech.\u2019 The draft bills, according to CNN<\/a>, propose a range of legislative solutions to address how the tech companies built and maintained their market dominance. The bills would also require the \u2018Big Four\u2019 to significantly rejigger their business practices, or break up altogether, in an effort to conform to the new antitrust laws. <\/p>\n\n\n\n

Last year, House Democrats on the antitrust panel found that the tech industry’s most powerful companies (Amazon, Apple, Facebook, and Google) wield too much monopoly power<\/a> that makes it difficult for small companies to compete adequately. The Big Fours, however, argue that they compete fairly, and provide products and services that consumers have benefited from.<\/p>\n\n\n\n

The aim of these bills is to level the playing field and deal with the challenges of competing in the digital markets.<\/p>\n\n\n\n

Also Read: Chinese Ride-hailing Giant, Didi Chuxing, Files for a US IPO<\/a><\/strong><\/h4>\n\n\n\n

What\u2019s inside those antitrust bills?<\/strong><\/h2>\n\n\n\n

The bills\u2014if passed\u2014could alter America\u2019s most valued companies. According to the first <\/strong>bill, Amazon and other big tech companies wouldn\u2019t be allowed to own or operate businesses that would incentivize it to favor its products\/services over those of its competitors. In other words, Amazon\u2014for instance\u2014would need to split its business into two. Why? Because Amazon operates a marketplace and also sells its products on the same marketplace.<\/p>\n\n\n\n

The second bill would also bar companies like Google from promoting their own products in search results over those of their competitors. What\u2019s more, these companies, under the third bill, would have to tweak their platforms to make it easier to port data from one service to another. <\/p>\n\n\n\n

The last two bills focus on mergers. The fourth would make it hard for these tech companies to snatch up small competitors while the fifth would raise filing fees for large mergers. The aim: to raise money for antitrust enforcement agencies.<\/p>\n\n\n\n

Looking ahead<\/strong><\/h2>\n\n\n\n

It\u2019s not immediately clear when these bills will pass into law\u2014or if they will even make it through. What\u2019s certain, however, is the bills will need to get past the Judiciary Committee before making their way to the full House. And then, they would need to be approved by the Senate and signed by the president before they become law.<\/p>\n\n\n\n

If they do, these bills will represent the biggest changes to antitrust law the tech industry has seen in decades. <\/p>\n","protected":false},"excerpt":{"rendered":"

A new set of antitrust bills could potentially clip the wings of the world’s biggest tech companies…<\/p>\n","protected":false},"author":3,"featured_media":507,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","inline_featured_image":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[107,102,106,103,108,105,104],"series":[],"ppma_author":[463],"class_list":["post-505","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-amazon","tag-antitrust","tag-apple","tag-big-tech","tag-facebook","tag-google","tag-regulation"],"yoast_head":"\nNew Set of Antitrust Bills to Weaken Big Tech\u2019s Dominance<\/title>\n<meta name=\"description\" content=\"A new set of antitrust bills could potentially clip the wings of the biggest tech companies like Amazon, Apple, Facebook, and Google.\" \/>\n<meta name=\"robots\" content=\"index, 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