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US to investigate big tech

4 1 0
27.07.2019

OPINION: If I asked you to name the four biggest brands in technology right now, you'd automatically think of Google, Apple, Facebook and Amazon.

Coincidentally, that appears to be exactly who the United States Department of Justice is targeting with a new antitrust investigation this week.

While the DOJ did not specifically mention the above companies, it did say that its review would be looking into "whether and how market-leading online platforms have achieved market power and are engaging in practices that have reduced competition, stifled innovation, or otherwise harmed consumers".

And then went on to say that it would be focusing on "search, social media, and some retail services online".

While not mentioning Google, Apple, Facebook and Amazon specifically, I think it's a safe bet that they will be the targets.

The markets agree. The share prices of these companies all fell immediately after the news broke.

READ MORE:
* Facebook fined $7.5 billion for privacy violations
* EU threatens Google with break-up
* No Zuck, Facebook doesn't have the best reputation on privacy

Facebook was the biggest hit, losing 1.7 per cent - though some of this could be attributed to the recent news that it was also facing a US$5........

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