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Technology Big tech CEOs release opening statements before antitrust hearing

05:08  29 july  2020
05:08  29 july  2020 Source:   engadget.com

Tech's biggest CEOs agree to appear at House antitrust hearing

  Tech's biggest CEOs agree to appear at House antitrust hearing Apple’s Tim Cook, Amazon’s Jeff Bezos, Facebook’s Mark Zuckerberg and Google’s Sundar Pichai have all reportedly agreed to testify at a House antitrust hearing in late July. According to Kara Swisher (The New York Times, Recode), Rep. David Cicilline told her in an interview that the CEOs of the biggest tech companies in the world will appear in front of the Judiciary Committee. A spokesperson for the committee has also confirmed their attendance to CNBC. CUPERTINO, CALIFORNIA - SEPTEMBER 10: Apple CEO Tim Cook delivers the keynote address during a special event on September 10, 2019 in the Steve Jobs Theater on Apple's Cupertino, California campus.

antitrust tech antitrust hearing House Antitrust Committee david cicilline jeff bezos amazon Sundar Pichai googe alphabet tim cook apple mark zuckerberg facebook. Some of those hearings have been pure political theater; others have led to hefty if inadequately punitive fines.

On the eve of a Big Tech antitrust hearing , citing video evidence dug up by Project Veritas, a Facebook CEO Mark Zuckerberg testifies before Congress, October 23, 2019 file photo. Zuckerberg allegedly made “materially false statements to Congress while under oath” during the April 10-11 joint

The big tech antitrust hearing with the House Judiciary Committee is set to occur tomorrow, July 29th at 12PM ET. But all four CEOs -- Jeff Bezos of Amazon, Sundar Pichai of Google, Tim Cook of Apple, Mark Zuckerberg of Facebook -- have released their opening statements early. In all of them, the CEOs attempted to make the case that as successful as their companies are, they do not represent a monopolistic force in the industry. It will be Bezos’s first time testifying before the House.

Google, Apple, Facebook, Amazon CEOs to testify before Congress on July 27th

  Google, Apple, Facebook, Amazon CEOs to testify before Congress on July 27th A few days ago, it was revealed that tech’s biggest CEOs had agreed to testify at a House Judiciary Antitrust Subcommittee hearing in late July. Now, the committee has an exact schedule for the event: It has announced that the hearing will take place on July 27th at 12PM ET and will be livestreamed through its official YouTube account. The committee has also reconfirmed that Amazon’s Jeff Bezos, Apple’s Tim Cook, Facebook’s Mark Zuckerberg and Google’s Sundar Pichai will testify. © Provided by Yahoo! Finance CEO Tim Cook speaks at an Apple event at their headquarters in Cupertino, California, U.S. September 10, 2019.

Tech CEO Antitrust Showdown With Congress Set for Wednesday. Chief executives of Amazon.com Inc., Facebook Inc., Alphabet Inc. and Apple Inc. will testify before a rescheduled congressional hearing on antitrust in Big Tech at noon on July 29, according to an announcement

It will be the first antitrust hearing of its kind since Gates' visit to Capitol Hill in 1998. And some policy experts anticipate that history could repeat itself, as the biggest of Big Tech face a range of antitrust probes.

Tim Cook wearing a suit and tie: UNITED STATES - MAY 21: Tim Cook, CEO of Apple, testifies during a Senate Homeland Security and Governmental Affairs Subcommittee on Investigations in Dirksen Building titled UNITED STATES - MAY 21: Tim Cook, CEO of Apple, testifies during a Senate Homeland Security and Governmental Affairs Subcommittee on Investigations in Dirksen Building titled "Offshore Profit Shifting and the U.S. Tax Code - Part 2." Cook and other Apple officials were on hand to explain the company's filings after the subcommittee accused Apple of tax avoidance. (Photo By Tom Williams/CQ Roll Call)

Unsurprisingly, Bezos, Pichai, Zuckerberg and Cook claimed that their businesses are good for the American economy. Bezos, for example, said that Amazon is often a source of revenue for small and medium-sized businesses. Similarly, Pichai said that Google often provides advertising, revenue and assistance for small businesses, and invests significantly in new technologies that could help advance breakthroughs in medicine and science. Cook mentioned that the App Store ecosystem facilitated over $138 billion in the US economy in 2019, as well as half a trillion worldwide. Zuckerberg made his usual case that Facebook is instrumental in connecting the world, which he claims is a global good.

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Top executives with four internet behemoths will testify on antitrust issues before a House committee this Wednesday in one of the most highly anticipated tech -policy hearings in recent years. For Amazon CEO Jeff Bezos, it will be his first appearance before a congressional committee.

The House Judiciary Committee hearing , originally set for Monday A rare public showdown between Congress and the CEOs of tech 's biggest companies is still on track after being postponed last week. The hearing is the latest chapter in the House Judiciary Antitrust Subcommittee's ongoing

All three CEOs also took the time to address antitrust concerns that their companies are far too dominant. For example, Bezos pointed out that Amazon has competition from the likes of Walmart, Target and Costco that offer curbside pickup, which he says gives them a certain advantage. Like Bezos, Pichai made the claim that Google has plenty of rivals in the form of Alexa, Twitter, Instagram, Whatsapp and Pinterest among others. Cook said that while the iPhone is a “revolutionary” product, it also faces plenty of stiff competition from the likes of Samsung, LG, Huawei and Google. Though Zuckerberg didn’t name-check any rivals in particular, he did say that Facebook faces “significant” global competition, including from the other “companies appearing at this hearing.”

The primary concern of this big antitrust hearing is that the tech giants are suppressing competition. House Judiciary Committee Chairman Jerrold Nadler and Antitrust Subcommittee Chairman David Cicilline said thusly:

“Since last June, the Subcommittee has been investigating the dominance of a small number of digital platforms and the adequacy of existing antitrust laws and enforcement. Given the central role these corporations play in the lives of the American people, it is critical that their CEOs are forthcoming. As we have said from the start, their testimony is essential for us to complete this investigation.”

You can read their full opening statements here. The testimonies will take place tomorrow via video conference, and will be livestreamed on YouTube.

GOP lawmaker to tech CEOs: 'Being big is not inherently bad' .
Rep. Jim Sensenbrenner (Wis.), the top Republican on the congressional panel questioning the CEOs of America's largest tech companies, said Wednesday that "being big is not inherently bad," instead pointing to concerns about anti-conservative bias on their platforms. Sensenbrenner, ranking member of the House Judiciary Committee's antitrust subcommittee, indicated in his opening statement that is particularly concerned with whether or not Amazon, Apple, Facebook and Google are too large. That is the main concern than his Democratic counterparts, who compared the companies to monopolies.

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