Big Tech CEOs Face Congress; Antitrust Wave Targets Digital Empire Power

LONDON, UK – This month, the U.S. House Judiciary Committee held a historic antitrust hearing, where CEOs from Amazon, Apple, Google, and Facebook convened via video for the first time, facing intense questioning. This marked the crescendo of an antitrust scrutiny wave against tech giants, starkly revealing their unprecedented wealth and power growth during the pandemic, and global regulators' resolve to check the expanding influence of digital empires.

During the hearing, lawmakers sharply questioned the four companies over alleged monopolistic practices. Amazon was accused of using platform data to mimic third-party sellers' products; Apple's App Store commission policy was questioned for stifling competition; Google faced charges of abusing its search engine dominance and advertising market power; and Facebook was pressured over its acquisitions and social media dominance.

A senior legal expert stated, "This hearing sends a clear message: the 'golden age' for tech giants may be ending. These companies have grown into behemoths with state-like influence, and their market behavior must be more strictly scrutinized."

The hearing took place amid rising global antitrust sentiment, with the EU, U.S. states, and other nations actively investigating or having filed lawsuits. Lawmakers expressed concerns that tech giants might stifle innovation, harm consumers, and negatively impact democratic processes. This hearing signifies a fundamental shift in regulators' stance towards tech giants, laying the groundwork for future legislative and judicial actions.