The congressional antitrust hearing of the big tech companies USA, will take place today. The CEOs of Amazon, of Facebook, Apple and Alphabet-owned Google will defend their companies' practices.
What they will say briefly was released last night.
As you will notice with what the CEOs of the companies report and broadcast by Reuters, there is no monopoly issue.
Ο Sundar Pichai, Chief Executive Officer Google, stressed that the company's "continued success is not guaranteed" as users now have many alternatives accessinformation and market dynamics are constantly evolving:
"For example, people have more ways to search information than ever before – and increasingly this is happening outside of the context of a single search engine.”
Ο Jeff Bezos defended the Amazon behavior stressing that the Seattle company is a small part of the overall retail market and competes with retailers such as Walmart, which is twice its size. He added that Covid-19 increased sales to all e-commerce companies and not just Amazon.
Ο Mark Zuckerberg of Facebook defended the acquisitions made by the company stating that its company competes with other companies that attend the hearing but also others globally. He said WhatsApp and Instagram, which are owned by Facebook, have been developed since their acquisition. He reiterated his company's position on government regulation and called for "updated Internet rules".
Ο Tim Cook Apple plans to tell the committee that Cupertino's company "does not have a dominant market share in any market where it operates. This doesn't just apply to iPhone, but applies to any product category.”
In his prepared speech, he states that before the release of the App Store, software developers paid a fee of 50-70% to distribute their applications, which has now been greatly reduced.
