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Updated October 7th, 2020 at 15:00 IST

US antitrust panel condemns Big Tech's 'monopoly', suggests action to restore competition

An antitrust panel report suggested a slew of reforms in the digital economy which could lead to the break-up of biggest tech companies of the US.

Reported by: Kunal Gaurav
US
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An antitrust panel report, backed by Democratic lawmakers, suggested a slew of reforms in the digital economy which could lead to the break-up of biggest tech companies of the United States. The House Judiciary Committee’s Antitrust Subcommittee released the findings of over 16-month long investigation into the state of competition in the digital economy.

The 449-page report on competition in digital markets outlined the challenges presented due to the monopoly of Amazon, Apple, Google, and Facebook. It suggested a series of possible remedies to restore competition in the digital economy, strengthen the antitrust laws, and reinvigorate antitrust enforcement.

During presidential primaries, several Democratic candidates had demanded the break-up of big tech firms as the antitrust panel continued its investigation. Massachusetts Senator Elizabeth Warren even promised to make “big, structural changes” to the tech sector to “promote more competition” - including breaking up Amazon, Facebook, and Google. 

Read: Five Things To Know About The Big Tech Antitrust Report

Read: US House Dems, GOP Probe Big Tech For Monopoly, Bias

After the report was released, Judiciary Committee Chairman Jerrold Nadler and Antitrust Subcommittee Chairman David  N. Cicilline said in a joint statement that the four Big Techs have expanded and exploited their power of the marketplace in anticompetitive ways. They highlighted that Apple, Amazon, Google, and Facebook each possess significant market power over large swaths of the US economy. 

“Our investigation leaves no doubt that there is a clear and compelling need for Congress and the antitrust enforcement agencies to take action that restores competition, improves innovation, and safeguards our democracy. This Report outlines a roadmap for achieving that goal,” the statement read.

Republicans disagree

The recommendations include structural separations to prohibit platforms from operating in lines of business that depend on or interoperate with the platform and prohibiting platforms from engaging in self-preferencing. However, the Republicans involved in the effort were not in the agreement over the recommendations. Congressman Ken Buck released a report titled "The Third Way: Antitrust Enforcement in Big Tech”, detailing solutions to rein in Big Tech’s anticompetitive behaviour. 

"While I do not support the recommendations presented in the subcommittee’s majority report, I fully support and am open to working with Chairman Cicilline to find a solution that reins in Big Tech and their anticompetitive behavior," Buck said in a statement.

Read: Facebook Broadens Measures Against QAnon, Will Remove Groups

Read: Twitter, Facebook To Ban Content That Wishes Donald Trump's Death From COVID-19

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Published October 7th, 2020 at 15:01 IST

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