Facebook, Amazon, Apple and Google ‘facetime’ Congressional Hearing on Wednesday. (is this a ClubTopic?)

In our world of technology, events like what will occur on Wednesday is paramount to a supe’bowl or a boxing match. We’re about to watch big tech companies go up against the US government in Congressional hearings as they’re questioned about the way they behave in their dominant spaces of our Internet marketplaces. Each company will be questioned about their area to investigate further any kind of harm their industry may be causing in our society. 

Is anybody interested in this a club topic? – scott

Today is Wednesday. Here is how to watch: https://www.cnet.com/news/how-to-watch-todays-antitrust-hearing-with-tim-cook-jeff-bezos-sundar-pichai-and-mark-zuckerberg/#ftag=MSF491fea7

Here are a few quotes from the article I thought were pertinent, and the link for the whole are it article is here: https://www.msn.com/en-us/news/technology/apple-facebook-amazon-google-head-to-congress-an-event-years-in-the-making/ar-BB17eG9G

“How much control? Facebook is the world’s largest social network, with a user base roughly equal to the world’s two most populous countries combined. Amazon controls 38% of US online sales — Walmart, its nearest competitor, had just shy of 6% — and has data on other retailers using the giant platform. Apple’s App Store is a powerful gateway for software developers to find an audience with the company’s massive iPhone and iPad customer base. And Google processes about 90% of all web searches globally.”

“Each of the four companies is facing its own antitrust battle. All of them are reportedly targets of probes by the Department of Justice or a coalition of state attorneys general. Google and Facebook have confirmed various investigations, while Amazon and Apple haven’t publicly acknowledged them. 

With Facebook, which reports second-quarter earnings on the same day as the hearing, regulators are looking into the company’s acquisitions of competitors like Instagram and WhatsApp. For Amazon, Congress has largely focused on the company’s private-label business, which sells Amazon brands of clothing, food and consumer goods like batteries and diapers. Apple has seen scrutiny over the cut it takes from software developers on its app store. For Google, regulators are focused mainly on the search giant’s dominance in digital advertising. “

“The hearing is tremendously significant,” Balto said. But “be ready for disappointment,” he adds, if you’re looking for big changes.

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