Sen. Warren: We Need to Break Up Amazon, Facebook, Google
Sen. Warren: We Need to Break Up Amazon, Facebook, Google
Elizabeth Warren Proposes Breaking Up Amazon Facebook Google Charles Krupa AP8 Mar 2019
08 March, 2019, 21:29
Warren would also appoint federal regulators "committed to using existing tools to unwind anti-competitive mergers".
The Massachusetts Democrat, who has largely been critical of large financial companies, said that the plan would unravel large tech giants' acquisitions of rival tech companies.
"Today's big tech companies have too much power - too much power over our economy, our society, and our democracy", Warren wrote.
"These companies would be prohibited from owning both the platform utility and any participants on that platform".
Warren's call for regulating big tech helps separate her from the rest of the crowded 2020 Democrat presidential field, where many candidates have varying opinions on Silicon Valley's influence.
Second, Warren said she would push legislation that would label key services - such as Amazon's marketplace for goods and Google search - as "platform utilities", which would have to be spun off from those tech giants' business on those platforms.
Although the plan would impact all of the tech industry's biggest players, Amazon could be hit hardest.
"We need to stop this generation of big tech companies from throwing around their political power to shape the rules in their favor and throwing around their economic power to snuff out or buy up every potential competitor", she continues.
Warren's latest policy proposal promised to be a central element of her NY appearance as well as her scheduled visit Saturday to the SXSW conference in Austin, Texas.
But NetChoice, an e-commerce trade group whose members include Facebook, warned that Warren's plan would lead to higher prices for Americans. "That's why my Administration will make big, structural changes to the tech sector to promote more competition - including breaking up Amazon, Facebook, and Google". You'll still be able to go on Amazon and find 30 different coffee machines that you can get delivered to your house in two days.
U.S. Senator Elizabeth Warren answers questions from reporters after speaking at Plymouth State University in Plymouth, N.H., February 23, 2019.
President Trump said in August that he believed tech companies are in an "antitrust situation", but he was more concerned about organizations capturing information from their users.
The company produces over $25 billion in revenue and would have to choose between, for example, "running the App Store or offering their own apps", said Saloni Sharma, a spokesperson with the campaign.
Warren is expected to promote the idea Friday evening in Long Island City, New York, where Amazon was planning to build a monster campus before the online company backed out following local opposition. $0 for schools. $0 for firefighters. "Why should corporations that contribute nothing to the pot be in a position to take billions from the public?"
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Stock prices of companies like Kroger, Costco , Sprouts, and Walmart, immediately reacted following the spread of the news. Amazon is now evaluating opening dozens of the stores across the USA with the first potentially opening in Los Angeles.
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