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Congress calls tech giants monopolies in groundbreaking report

The report compares major tech companies to 'oil barons and railroad tycoons.'

Oct 6, 2020, 5:06 pm*

Tech

Mikael Thalen 

Mikael Thalen

A groundbreaking report released by Congress on Tuesday takes aim at the country’s major tech giants over accusations they’ve violated antitrust laws.

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The 449-page report, produced by the House Judiciary Committee, details the controversial business practices of Apple, Amazon, Facebook, and Google that many have called monopolistic.

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The companies are criticized for numerous actions such as buying their competitors and giving preferential treatment to their own services over all others.

The report further argues for an overhaul of U.S. antitrust policy in an effort to reign in tech companies and advises against any future mergers.

“To put it simply, companies that once were scrappy, underdog startups that challenged the status quo have become the kinds of monopolies we last saw in the era of oil barons and railroad tycoons,” the report says.

The committee has even accused some of the tech companies of withholding pertinent documents requested during their investigation.

Among the findings, Apple is accused of having a monopoly over software distribution, while Amazon is reprimanded for its treatment of third-party sellers. Facebook is accused of having a monopoly over the social media space and Google of dominating the online search realm as well as advertising markets.

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The report has been backed by the committee’s Democrats, but was not endorsed by Republicans. Rep. Jim Jordan (R-Ohio) pushed back against the report for not including allegations that tech companies are biased against conservatives.

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*First Published: Oct 6, 2020, 5:03 pm