This 2019-2020 photo combination shows Amazon CEO Jeff Bezos, Apple CEO Tim Cook, Google CEO Sundar Pichai and Facebook CEO Mark Zuckerberg. (AP Photo / Pablo Martinez Monsivais, Evan Vucci, Jeff Chiu, Jens Meyer)
OAN press room
UPDATED AT 3:05 PM PT – Saturday July 25, 2020
Ongoing investigations into antitrust laws governing Big Tech companies will move forward next week. According to reports, CEOs of Google, Facebook, Apple and Amazon will testify before a House judicial subcommittee on Wednesday.
The virtual hearing was supposed to take place earlier this week, but it was rescheduled to accommodate the John Lewis memorial service.
The hearing comes amid an investigation into current antitrust laws, which will determine whether the laws do enough to hold media giants accountable.
Analysts believe the crackdown could affect stocks.
“In terms of the adjourned hearing, it just kicks the can in the future,” said research analyst Dan Ives. “This remains a risk as the drum rumbles and the ring road continues, especially that battle between the ring road and big technology.”
FILE: In this Aug. 11, 2019, file photo, an iPhone shows the Facebook and Messenger apps in New Orleans. (AP Photo / Jenny Kane, File)
Republican lawmakers are concerned that these companies are too dominant and have created a monopoly on the type of information being shared.
“They are run by leftist billionaires from Silicon Valley. They have an unmatched ability to shape what Americans see, hear, and ultimately think. They use that power to silence conservatives and promote their radical leftist agenda. “ – Ted Cruz, US Senator (R-Texas)
Conservative groups have openly voiced their criticism of tech companies, which they believe deliberately suppress freedom of expression online.
