House members to introduce bills that could split Amazon into two


Republicans and Democrats to introduce ‘ending monopolies’ bill that could force Amazon and other tech giants to SPLIT into two companies

  • A bipartisan group of House members plan to roll-out bills that aim to bust up Big Tech monolopies, targeting Amazon, Apple, Facebook and Google 
  • The Wall Street Journal reported Friday that legislation being proposed could force Amazon to split into two companies or shed their own branded products 
  • Another bill would ban big tech companies from using their platforms to give their own products a leg up 
  • The bills could be announced as early as Friday 
  • Each of the House bills has Democratic and Republican support, the Journal reported, but no names have been publicly attached to the legislation 

A bipartisan group of House members plan to roll-out bills that aim to bust up Big Tech monolopies, targeting Amazon, Apple, Facebook and Google.   

The Wall Street Journal reported Friday that legislation being proposed could force Amazon to split into two companies or shed their own branded products. 

Another bill would ban big tech companies from using their platforms to give their own products a leg up.  

Amazon.com's headquarters in Seattle. Amazon is among 'Big Tech' companies expected to be targeted by new antitrust legislation that could be rolled out as early as Friday

Amazon.com’s headquarters in Seattle. Amazon is among ‘Big Tech’ companies expected to be targeted by new antitrust legislation that could be rolled out as early as Friday 

Lauren Sanchez (left) and Amazon CEO Jeff Bezos (right). The legislation could force Amazon to split its platform business away from its branded products business

Lauren Sanchez (left) and Amazon CEO Jeff Bezos (right). The legislation could force Amazon to split its platform business away from its branded products business

Apple CEO Tim Cook. The legislation, if passed, could also impact how Apple runs its app store

Apple CEO Tim Cook. The legislation, if passed, could also impact how Apple runs its app store 

The bills could be announced as early as Friday. 

Congress has been looking at the size and power of so-called ‘Big Tech’ for the past 15 months. 

Each of the House bills has Democratic and Republican support, the Journal reported, but no names have been publicly attached to the legislation. 

One of the bills, called the ‘Ending Platform Monopolies Act’ says, ‘It shall be unlawful for a covered platform operator to own or control a line of business, other than the covered platform, when the covered platform’s ownership or control of that line of business gives rise to an irreconcilable conflict of interest.’ 

The Journal compared the bill to the Glass-Steagall act, which separates commercial from investment banking. 

While Amazon sells third-party goods, it also sells its own branded products, and often for far cheaper. 

It’s also been found to use third-party data to inform what products it makes. 

The second bill deals with a company’s self-preferencing, in which a company uses it’s platform or exclusive access to data to advantage other areas of business – such as how Amazon handles its retail business or how Apple manages its app store.   

The legislation is targeted at Big Tech, with the companies needing to have a market capitalization of $600 billion or more or more than 500,000 active monthly users, the Journal said.

Under those parameters only Amazon, Apple, Facebook and Google would currently qualify. 

The bills would have to be passed through a Democrat-controlled House and then onto a Senate, where the Democrats’ narrow majority means the bills would need 10 Republican votes to override a filibuster threat. 

While both parties have been critical of ‘Big Tech’ in recent years, Republicans are less likely to support changing the country’s antitrust laws.  



Source link

Spread the love

Written by bourbiza

Chicago is officially reopened, mayor says

Black Ties and Polka Dots at the New York Botanical Garden