WASHINGTON (Reuters) – The House of Representatives, Judiciary Committee, it is expected that a final report on the probe of the big technology companies, and the potential for violations of the antitrust laws, the “first part” of next year, by the chairman of the antitrust panel said on Friday.
FILE PHOTO: The logo of Amazon, Apple, Facebook, and Google, are seen in a combination photo from the Reuters files. (REUTERS photo//File Photo
The audit committee has received tens of thousands of documents by Facebook Inc., the roman Alphabet, Google, Amazon.com Inc. Apple, Inc., and will be expecting more stuff in the next few weeks, Representative David Cicilline told the crowd of reporters.
“Our hope is to conclude our gathering of evidence, to the end of the year, at the beginning of next year, with the idea that we will have a final report, in lieu of the recommendations set out in the first part of the year,” said Cicilline, a Democrat.
He made the remarks during a hearing to discuss the impact of the consumers on the collection of data through the major technology platforms in the online competition. Rohit Chopra, the Commissioner of the Federal Trade Commission, as well as experts from the Harvard university john f. Kennedy School, and the American Enterprise Institute, also participated in the hearing.
Large troves of consumer data that is collected by the large technology companies that will enable them to gain a competitive advantage and pose a threat to its competitors by creation of barriers to entry, I said it.
The personal data that has been feeding on the power of the tech companies that offer basic services for free, which in the end is not free of charge, he added.
I said, even small penalties and the financial sanctions will not be enough to address concerns over the power of the large technology companies, adding that regulators need to take a closer look at that.
For example, earlier this year the FTC fined Facebook Inc’s $5 billion-about on-line privacy. I voted against this resolution.
There are a variety of probes with federal, state, and congressional level, and aims at the establishment of the major technology companies are using their considerable influence in the online market in illegally to harm competitors, or otherwise breaking the law.
Once hailed as the engines of economic growth, these firms are increasingly on the defensive about their market impact. The politicians, including the President, Donald Trump, to consumers, other businesses, and regulators, have criticized those in power.
Reporting by Nandita Bose; Editing by Alistair Bell