On Capitol Hill, the heads of Apple, Google, Facebook and Amazon testified Wednesday before the House Judiciary antitrust subcommittee. Facebook CEO Mark Zuckerberg faced numerous questions about Facebook’s purchase of Instagram. Newly released internal Facebook emails reveal the purchase was made to “neutralize a competitor.”
House Judiciary Chair Jerrold Nadler said Google and Facebook have “greatly threatened journalism” due to their dominance in online advertising. Subcommittee Chair David Cicilline openly called for breaking up the Big Tech companies.
Rep. David Cicilline: “This hearing has made one fact clear to me: These companies, as exist today, have monopoly power. Some need to be broken up; all need to be properly regulated and held accountable. We need to ensure the antitrust laws, first written more than a century ago, work in the digital age.”
Cicilline also warned the companies may emerge stronger and more powerful in the wake of COVID-19. The hearing came just days after Amazon CEO Jeff Bezos reportedly made $13 billion in a single day.