Congressional Democrats Admit Big Tech Companies Abuse Monopoly Power

Recode reports that a report from top Democratic Congressional lawmakers about the Masters of the Universe including Apple, Amazon, Facebook, and Google, has determined that the companies engage in a range of anti-competitive behavior and that antitrust laws must be overhauled to reign them in.

The report, which is about 400 pages long, was written by the majority staff of the Democratic members of the House Judiciary Subcommittee on Antitrust. It is the culmination of a 16-month investigation into whether tech firms abuse their power and whether the countrys antitrust laws need to be adjusted to better regulate the tech industry.

The report cites numerous examples of tech firms engaging in acts that the lawmakers believe could have a negative effect on innovation and could impede competition. The behaviors cited vary between companies but all are linked by allegations that the four tech giants abuse their powers as gatekeepers of certain internet industries to secure and grow their power in those sectors.

Democratic lawmakers are recommending the creation of new laws that could potentially break up tech companies making git harder for them to pursue acquisitions.

Bush, told Recode:This is the first time since the 1970s that a congressional committee has devoted this kind of attention to dominant firms and changing the structure of a major American industry.