BusinessNewsScience and Technology

The process of enacting tougher laws against big tech companies in the US will speed up, Biden also hinted

  • Hope to reconsider the old law after rejecting two cases in favor of Facebook
  • Consider suggestions to give more powers to regulatory agencies

The issue of cracking down on big technology companies is heating up again after two cases were filed against Facebook last week. Experts say the ruling will speed up the process of making tougher laws against these companies. Democratic and Republican lawmakers are unanimous in overcoming the monopoly of big tech companies. Washington’s federal district court on Monday rejected two petitions.

The court said the giant media company trades with a monopoly. 

Following the ruling, Facebook will no longer have to give its subsidiaries WhatsApp and Instagram a separate status. Critics hope the ruling will pave the way for a change in antitrust law. However, Facebook’s troubles are not over yet. The Federal Trade Commission, the agency that monitors trade competition, can file a revised complaint within 30 days.

Biden has signaled his stance by appointing two critics of the big tech company, Leena Khan and Tim Woo, to key positions. Young lawyer Khan has been campaigning against big tech companies for many years. In March, Biden appointed Tim Woo, another critic of major tech companies, as special adviser on technology and competition policy. Bill Bear, who was antitrust assistant attorney general in President Obama’s administration between 2013 and 2019, says:

The pace of changing our 100 year old laws against their monopoly will now increase. “Everyone on the Internet knows that Facebook has the power of a monopoly,” Senator Elizabeth Warren said in a social media post after the ruling. Warren promised to break up the company in the Democratic Party’s candidacy campaign for the 2020 presidential election. The company has a market share of more than 60% in the market.

The FTC could not provide sufficient evidence to support its claim, the FTC said in court against Facebook. The FTC will have to re-file the complaint with further evidence. However, critics of the tech companies in the government and parliament want to change the rules completely, so that all the difficulties of taking action against the tech giants are eliminated. On the other hand, the US Congress is considering suggestions to give more powers to regulatory agencies to curb big companies like Facebook, Amazon, Google and Apple.

FTC president Leena Khan’s tough stance

President Joe Biden’s appointment of 32-year-old lawyer Leena Khan as head of the FTC has signaled that his stance may not be sympathetic to big tech companies. American law has values ​​criteria for detecting the loss of a monopoly. For example, Amazon can dominate the market and sell goods to consumers at a lower price.

Read More : Working Days: Suggestions to companies in Japan – 4 days working day, debate broke out in the country


Chief Editor at Global Adventures Magazine

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button