Question
Big Tech are the largest and most dominant companies in the information technology industry of the United States, namely Amazon, Apple, Google, Facebook and Microsoft.
Big Tech are the largest and most dominant companies in the information technology industry of the United States, namely Amazon, Apple, Google, Facebook and Microsoft. These five firms have been the most valuable public companies globally in recent years. Big Tech have also been scrutinized extensively by House lawmakers who condemn their monopoly power and urge them to break up (https://www.nytimes.com/2020/10/06/technology/congress-big-tech-monopoly-power.html).
However, Big Tech firms dispute the lawmakers' conclusions. For example, Google said in a statement, "Google's free products like Search, Maps and Gmail help millions of Americans, and we've invested billions of dollars in research and development to build and improve them. We compete fairly in a fast-moving and highly competitive industry." Facebook disagreed that its mergers with Instagram and WhatsApp were anticompetitive. "We compete with a wide variety of services with millions, even billions, of people using them," the company said in a statement. "Acquisitions are part of every industry, and just one way we innovate new technologies to deliver more value to people."
Which side are you on? Do you support the lawmakers' proposition to break up these Big Tech firms? Do you think that these Big Tech firms are not anticompetitive? Please elaborate on your discussions.
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