Democratic Senator Warren Calls for Regulations on Big Tech Companies

Democratic Senator Warren Calls for Regulations on Big Tech Companies

Democratic Senator Warren Calls for Regulations on Big Tech Companies

"That means we break Facebook away from Instagram and WhatsApp, Amazon away from Whole Foods, Google away from Nest, and more", Warren wrote in a campaign email.

In a blog post published on Medium, the Democratic senator from MA who is running for president in 2020, argued that all three companies have become far too dominant. She says they've "bulldozed competition, used our private information for profit, and tilted the playing field against everyone else".

In a speech she'll be giving today in Long Island City, Queens, the Democratic presidential hopeful will discuss her proposal to weaken the monopolistic grip of tech giants such as Amazon, Google, and Facebook, reports the New York Times. Now she says there's a conflict between the search giant's roles selling and buying online ads.

Democratic 2020 U.S. presidential candidate and U.S. Senator Elizabeth Warren (D-MA) arrives a Senate Banking and Housing and Urban Affairs Committee hearing on "The Semiannual Monetary Policy Report to Congress" on Capitol Hill in Washington, U.S., February 26, 2019.

Carl Szabo, the Vice President and General Counsel for NetChoice, whose members include Facebook, PayPal, Google, eBay, Etsy, Twitter, etc., pushed back against Warren's assertion that tech markets lack competition. So would requiring Google to divest DoubleClick, the company it acquired in 2008 that vastly expanded the reach of its advertising network.

The tech companies have come under fire due to their role in rapidly displacing existing businesses.

She added: "We must help America's content creators - from local newspapers and national magazines to comedians and musicians - keep more of the value their content generates, rather than seeing it scooped up by companies like Google and Facebook".

And another senator who has announced a presidential candidacy, the Vermont independent Bernie Sanders, introduced a bill in September that directly targeted Amazon and its CEO Jeff Bezos for not paying all its USA workers $15 an hour. Called "Platform Utilities", these firms would not be allowed to own an online marketplace and sell their own products on it. Amazon Marketplace and its AmazonBasic brand is an example.

Congress held a series of hearings past year looking at the dominance of major tech companies.

Matt Stoller, a fellow at the Open Markets Institute, which pushes for increased antitrust enforcement and stricter rules, tweeted that Warren's proposal is "smart and practical" and "a big deal".

Warren made her political mark by going after big banks after the 2007-2009 financial crisis.

One of Warren's 2020 rivals, Senator Cory Booker, has faced criticism for his past closeness to the tech industry.

"Here's what will change", she continues. However small businesses would have more chance of gaining visibility, whether that be surfacing higher on search results or competing with Amazon.

Senator Bernie Sanders in 2018 even named a bill after Amazon founder Jeff Bezos, the Stop BEZOS Act, which would tax big companies if their employees receive public benefits.

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