Senator Elizabeth Warren has thrown down the gauntlet and promised to break up Amazon, Google and Facebook
Senator Elizabeth Warren, one of the Democratic front runners for the presidency of the United States, has thrown down the gauntlet and promised to break up Amazon, Google and Facebook. post, Warren stated, “Today’s big tech companies have too much power—too much power over our economy, our society and our democracy. They’ve bulldozed competition, used our private information for profit and tilted the playing field against everyone else.
Facebook has faced a steady stream of issues. This includes a $5 billion fine from the Federal Trade Commission over privacy breaches, $100 million settlement with the Securities and Exchange Commission in response to allegations of misleading investors about the risks of user data being mishandled, poor performances of Zuckerberg before Congress and harsh criticism and regulatory backlash over Facebook’s new Libra cryptocurrency-type product launch.
In a Twitter rampage, Warren tweeted, “What would really ‘suck’ is if we don’t fix a corrupt system that lets giant companies like Facebook engage in illegal anticompetitive practices, stomp on consumer privacy rights, and repeatedly fumble their responsibility to protect our democracy.” There is historical precedent for breaking up monopolistic companies within their sectors. The Department of Justice filed an antitrust case against Microsoft in the ‘90s alleging that the company used its control over the PC market to force out competing operating systems and browsers. AT&T, IBM, Standard Oil and other corporations were broken up by the U.S. government due to similar concerns to the ones currently being raised against the Big-Tech companies.
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