Saturday, June 12, 2021

House Bills Seek to Break Up Amazon and Other Big Tech Companies

When busybodies and economic illiterate and plain foolish politicians come up with laws to bust certain big companies! Most likely these laws are unconstitutional anyway! They are a threat to liberty!

It is already enough that the cognitively impaired 46th President is doing all in his power to ruin the U.S. economy! Members of the U.S. Congress are well advised not to imitate or best this fool!

Let the free markets take care of big tech companies. It may take a while, but eventually competitors or customers will rein in the big tech companies if they do not serve the customers best interest!

If politicians in Washington DC want to do anything, then make sure more free market competition is possible and unimpeded! Shorten intellectual property rights, get rid of the privileges of car dealerships, get rid of cumbersome government regulations and much, much more!

Let's not forget that:
  1. Amazon, Google or competing on a global scale and that e.g. some Chinese companies are as big or soon to be as big as the U.S. companies.
  2. The European Union has been foolish enough trying similar things for years to curb U.S. tech companies! 

"House lawmakers proposed a raft of bipartisan legislation aimed at reining in the country’s biggest tech companies, including a bill that seeks to make Amazon.com Inc. and other large corporations effectively split in two or shed their private-label products.

The bills, announced Friday, amount to the biggest congressional broadside yet on a handful of technology companies—including Alphabet Inc.’s Google, Apple Inc. and Facebook Inc. as well as Amazon —whose size and power have drawn growing scrutiny from lawmakers and regulators in the U.S. and Europe.

If the bills become law—a prospect that faces significant hurdles—they could substantially alter the most richly valued companies in America and reshape an industry that has extended its impact into nearly every facet of work and life.

One of the proposed measures, titled the Ending Platform Monopolies Act, seeks to require structural separation of Amazon and other big technology companies to break up their businesses. It would make it unlawful for a covered online platform to own a business that “utilizes the covered platform for the sale or provision of products or services” or that sells services as a condition for access to the platform. The platform company also couldn’t own businesses that create conflicts of interest, such as by creating the “incentive and ability” for the platform to advantage its own products over competitors. ..."

House Bills Seek to Break Up Amazon and Other Big Tech Companies - WSJ Legislation could force e-commerce giant, others to split into two companies or shed some products and services

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