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Google, Amazon, Apple and Facebook due to attend congressional hearing
JustV
Posts: 5,522 Part of The Furniture
The CEOs of the world's biggest tech companies - Google, Amazon, Apple and Facebook - are due to attend a congressional hearing on July 27th. According to Business Insider, this is part of a wider investigation by the US government into the dominance of large tech companies. This will be an antitrust hearing, which means they're looking at ways to prevent these firms gaining a monopoly in their industries or too much control over their markets.
What do you guys think about this? Do tech companies have too much influence and control right now? Should we be regulating them more than we are? How much of a problem is corporate consolidation?
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Comments
It's a very successfull business model.
I'm a leftie with concerns over globalisation, the unchecked power and influence of largle multi national corpoartions, and economic inequality.
I'm also an an Azure AWS SysOps Admin who spends several hundred thousand pounds of public money with Microsoft and Amazon every year,
The things is a lot of the fact these companies are successful is because they are a monopoly. They have the network effect and the fact that they can be more efficient e.g. amazon. Although it isn't necessary for amazon to take over every aspect of business in the end ppl support them because they are convenient. They are very bad though using manipulative business practices driving out competitors, and the way they treat their workers for example. Some people say it's because of the way capitalism works especially with these sorts of companies.
I think one issue with the internet is there area lack of public sites. I think closest are things like wikipedia, open source projects and that. There is also email but it is kinda out of date they will need to change email even though email clients make it better (except those clients are things like google)
With covid it seems to have even given an opportunity to certain companies to increase this control. I also do not like things like amazon alexa as it has authoritarian spying vibes, i wouldn't want that in my home not that voice activated stuff interests me seems highly gimmicky and i rather type.