Giants like Google, Amazon, Facebook and Apple grilled over their market power in global aspects!

There are corporations who has a massive impact on the entire Global scenario and some of the top players are undoubtedly Google, Amazon, Facebook and Apple. On 30th of July 2020 these GIANTS were grilled at Capitol Hill in United Sates of America.

All the giants took a rigorous lashing over their market power and global influence. Almost 70% of the world population are consumers and users of the products from these companies. The Democrats and Republicans did not leave any stones unturned to grill them with their market power in ammasing worldwide data, crushing their competitors and skyrocketting their profits.

This is one of the rare interrogation we can see ever seen in recent times which extended to over 6 hours of hearing. The lawmakers and antitrust committee came across with numerous documents with multiple videos on the Silicon Valleys Elite chiefs and they have questioned all the giants that the tech sector has become so big and powerful that they tend to threaten their competitors, consumers and in some cases Democracy itself.

Rep. David N. Cicilline (D-R.I.) of the antitrust panel has opened a congressional investigation on Google, Apple, Amazon and Facebook last year where it was tried to explore if the giants have attained their status through potentially anti-ompetitive means.

However, the responses from the four chief executives like Amazon’s Jeff Bezos, Apple’s Tim Cook, Facebook’s Mark Zuckerberg and Google’s Sundar Pichai  took the witness stand to fiercely defend their businesses as rags-to-riches success stories, made possible only through American ingenuity and the sustained support of their ever-growing customer bases.

There were numerous exchanges made by the giants and the panel on various key issues which are influencing the global population in numerous ways. The details could be found in the post and video updates by Washington post on Wednesday. This news has a Global, National and regional influence for everyone around the globe.

 

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