Executives of a now-defunct photo app filed an antitrust complaint against Facebook on Thursday alleging the company schemed to end their company.
The complaint, filed by executives of a start-up image app called Phhhoto, alleges that Facebook employed anti-competitive business tactics to throttle the smaller company after it refused a business deal with the tech giant. Specifically, the suit alleges that Mark Zuckerberg personally downloaded the app, approached Phhhoto for a partnership and later pursued a campaign against the start-up after no deal materialized. Read More
Last-minute changes to major antitrust legislation working its way through the House appears to exempt several Big Tech companies from being affected by its regulations.
The legislation, which has been months in the making and was crafted to take on Big Tech monopolies, targets a handful of companies while excluding others that also have massive market power, a leading expert told the Daily Caller News Foundation. Existing federal and state antitrust law already prohibits a wide range of anticompetitive business activity across all industries like unlawful mergers and monopolization. Read More
Facebook’s market capitalization, or total dollar value, closed above $1 trillion for the first time ever Monday, making it the fifth U.S. company to reach such size.
Facebook exceeded the $1 trillion mark after a year in which the company experienced massive user and earnings growth, CNBC reported. Apple, Alphabet, Microsoft and Amazon – all fellow Big Tech companies – are the only other U.S. companies that have also surpassed $1 trillion in market capitalization, according to Axios. Read More
European Union regulators filed antitrust charges Tuesday against Amazon, accusing the e-commerce giant of using its access to data from companies that sell products on its platform to gain an unfair advantage over them.
The charges, filed two years after the bloc’s antitrust enforcer began looking into the company, are the latest effort by European regulators to curb the power of big technology companies. Margrethe Vestager, the EU commissioner in charge of competition issues, has slapped Google with antitrust fines totaling nearly $10 billion and opened twin antitrust investigations this summer into Apple. The EU’s executive Commission also opened a second investigation Tuesday into whether Amazon favors product offers and merchants that use its own logistics and delivery system. Read More
by Peter Hasson and Chris White Department of Justice investigators who are conducting an antitrust probe targeting Google do not appear to be scrutinizing claims that the tech giant manipulates its search function, leaks about the probe and a source familiar with it indicate. Google critics argue that Google… Read More
Amazon, Twitter, and other major tech companies are facing intense criticism on antitrust issues and censorship claims in the months since government officials reportedly began asking for help from Silicon Valley on ways to tackle the coronavirus pandemic.
The president and lawmakers have turned their sights on Twitter and Amazon, respectively, while Texas Attorney General Ken Paxton and other attorneys general are reportedly ratcheting up their antitrust investigation targeting Google’s business model. The White House asked them in March to fight coronavirus disinformation while also assisting the government in its virus response. Read More