A bipartisan coalition in the US House of Representatives introduced new antia trust law to force the death of Big Tech hold over our lives. If lawmakers get what they want, it could mean that some of America’s biggest tech companies will in fact be disbanded.
The bundle of five new invoices, introduced by legislators in antitrust subcommittee, comes at a time when Americans increasingly agree that the “Big Four” (Facebook, Google, Amazon, and Apple) and others of their ilk are way, far too big. Indeed, more and more people feel than giving a small cartel of mega-companies supreme power over our data, our commerce, and politics is a pretty terrible fucking idea. Who would have thought?
Thus, with the slogan “A Stronger Online Economy: Opportunity, Innovation, Choice”, the proposed new laws seek to implement substantial changes that would ostensibly increase real competition in the market and stop the ever-increasing concentration. . power of Silicon Valley’s biggest fish.
In the case of a single invoice, the Law on the end of platform monopolies, the legislation would in fact seek to divide the parts of large companies that reach certain thresholds of size and influence (* cough, Amazon *). As the Wall Street Journal Reports, the law would require these companies to “effectively split into two or get rid of their private label products.” The law would also make it illegal to own a business that “uses the covered platform for the sale or provision of products or services”.
The majority of the bills specifically target companies that have a “market capitalization of $ 600 billion or more” and are large enough to significantly outwit the competition, reports the WSJ.
“Right now, unregulated technology monopolies have too much power over our economy,” Antitrust subcommittee chairman David N. Cicillin said in a statement. “They are in a unique position to pick winners and losers, destroy small businesses, raise consumer prices and put people out of work. Our program will level the playing field and ensure that the richest and most powerful technology monopolies play by the same rules as the rest of us ”and would also prevent such a business from owning other businesses that create“ conflict of interest ”. ‘interests’.
Anyone can guess how it will all shake up. These bills will have to pass both the House (currently controlled by the Democrats) and then the Senate, where they will face more GOP votes and may therefore meet with some resistance (less for the legislation). anti-tech stance that his pro– regulation a). It is also not entirely clear whether these laws pass the mustard when it comes to making meaningful changes. A simple glance at the text of the bill brings questions in mind as to how they would actually be promulgated and enforced.
Overall, however, this appears to be a step in the right direction and it is nice to see our lawmakers working together for a change instead of, dunno, calling the leaders of the other party be beheaded for treason or whatever we’ve all gotten used to during the Trump years. More of that, please.
To read the actual text of the invoices, click on here.