July 29, 2020
Today, four big tech executives will appear before the U.S. House Judiciary subcommittee in a hearing to discuss antitrust issues and potentially anti-competitive behavior. Amazon, Apple, Facebook, and Google will appear before the committee.
The Utah Attorney General’s Office will be monitoring the hearing closely, as we are concerned about big tech companies’ competitive practices and their protection of consumers’ private information. Utah Attorney General Sean D. Reyes released the following statement:
“Technology has transformed our lives for the better in so many ways. These companies should be credited for their respective roles in accelerating this newest industrial revolution.
As a State, we have partnered with Amazon, Facebook, Google and Apple in areas such as economic development, fighting societal threats like human trafficking and teen suicide and combating economic crimes like fraud, identify theft and price gouging.
While we very much need and appreciate their support in such important arenas, it doesn’t give them immunity in all things. They know we must enforce the law against any company that violates it. Investigations, like the ones we are conducting, can help exonerate the innocent or hold violators accountable.
We are seeking balance: trying not to unduly burden the tech industry or stifle innovation but making sure the field is level so all tech players, large and small, can compete fairly and in the process, consumers are protected.
We are not trying to regulate equitable outcomes. Some companies will always be bigger and more profitable. Some will take more risk or face challenges others won’t. We are trying to regulate the process so market power doesn’t end up concentrated in too few hands.
The purpose of anti-trust laws is to keep competition robust—preventing companies from unfairly leveraging their market dominance to the detriment or demise of others. Consumers are better served when there is more competition.
Congressional leaders must also strike that balance, holding powerful companies accountable without overreacting with remedies and laws that may be counterproductive in the end.”
Read more about this hearing here.