WASHINGTON (NBC News) – Amazon, Google, Facebook and Apple will face Congress Wednesday after a more than year long anti-trust investigation.
Ceos Tim Cook of Apple, Sundar Pichai of Google, Mark Zuckerberg of Facebook and Jeff Bezos of Amazon will all testify virtually.
They’re facing accusations from congress that the tech giants unfairly favor their own products in the digital marketplaces they operate.
This is the first hearing ever for Amazon, which controls nearly 40 percent of online sales in the United States. Walmart, its closest competitor, controls just under six percent.
Facebook is the world’s largest social network, and Google processes 90 percent of all web searches globally.
Both are facing concerns over their acquisitions and how the companies operate their massive advertising marketplaces.
“Facebook and Google are effectively a duopoly for ad tech,” explains Nilay Patel of The Verge.
Meanwhile, Apple’s App Store is the only way app developers can access the massive iPad and iPhone customer base, with restrictions and fees from Apple.
Lawmakers plan to propose new anti-trust rules following the hearing, ensuring fairness from the tech giants that control a vast amount of what we see and buy online.
The hearing also foreshadows other possible government actions.
The Federal Trade Commission is preparing to depose Facebook in its 13-month probe of the social network, the Justice Department may soon unveil a case against Google, and an investigation into Apple by state attorneys general also appears to be advancing.
Read more: https://nbcnews.to/2COQpK1