In a rare joint appearance, the CEOs of Amazon, Apple, Facebook and Google are to testify by video at a House antitrust hearing on Wednesday
By Ryan Tracy Close Ryan Tracy , John D. McKinnon Close John D. McKinnon and Emily Glazer Close Emily Glazer Updated July 28, 2020 9:35 pm ET Big Tech will come under the glare of a national spotlight Wednesday, as four of its leaders face questions from members of Congress aiming to rein in what they believe is excessive power in the hands of a few giant companies.
For the CEOs, it is a chance to make the case that their success derives not from monopoly power, but from their ability to meet consumer needs. Mr. Pichai underscored Google’s numerous contributions to helping make consumers and small businesses more efficient and competitive, particularly during the coronavirus pandemic.
In dealing with rival companies, some tech giants often act in a predatory fashion, said Rep. Ken Buck . “They are doing it in a way that’s designed to reduce competition,” Mr. Buck said in an interview. “As it appears to me now, there’s a need for action and for updating the law.” It will also occur via video-chat because of the coronavirus pandemic. Instead of a crowded hearing room, the CEOs will testify from a place of their choosing.
Staffers have told outsiders the hearing could last five hours or more, with each lawmaker having multiple opportunities to ask questions. “We don’t want anyone to feel left out,” Ms. Jayapal quipped. Facebook faces multiple antitrust probes focusing in part on its acquisition of potential rivals. None of the investigations appears to be on a fast track, although the FTC is laying the groundwork for depositions of company executives.
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