On Wednesday CEOs of the four largest technology companies, in a landmark antitrust hearing, faced an audience that questioned them about their power and their dominant position that prevents free competition. What did they answer?
The CEOs of Google, Amazon, Facebook and Apple had a hearing before the Judicial Antimonopoly Subcommittee of the House of Representatives of more than 5 and a half hours, to face monopoly charges.
House of Representatives' research mentions that companies share a pattern of dominance, control, and abuse of digital infrastructure that is not only harming competition, creativity, and innovation but is also killing small businesses.
Regarding the accusations made to the "Big Tech", the Democratic congressmen pointed out that they had dominant positions and were monopolies, while the Republicans criticized them for censorship.
Jeff Bezos of Amazon, Sundar Pichai of Google-Alphabet, Tim Cook of Apple and Mark Zuckerberg of the Facebook platform not only avoided answering questions from the committee but also stated that despite being monopolies, their companies are at risk of losing ground against competitors.
Bezos said that Amazon competes every day with companies like Target, Costco, or Walmart denying that digital commerce is a different market than retail.
Zuckerberg said that the main messaging application in the United States is not WhatsApp but Apple's iMessage, the fastest growing social network is TikTok, while YouTube is the most popular app for video and the fastest-growing ad platform is Amazon. This way, the founder of Facebook minimized that WhatsApp, Facebook and Instagram are the main social and messaging platforms that together with Google share the biggest slice of the digital advertising business.
Cook said that Apple does not have a dominant position in any of the product categories in which it operates, including the iPhone, and Pichai said that Google operates in sectors where there is "vigorous competition".