What you need to know
- The Justice Department has started an antitrust review of major tech companies.
- Tech companies that are being scrutinized include Google, Facebook, and Amazon.
- Justice Department will review whether the companies have tried to thwart competition or harm consumers.
The Department of Justice has announced that is starting an antitrust review of how leading tech companies amassed market power and whether they have indulged in anti-competitive practices. While the Justice Department has not named specific companies, New York Times mentions Google, Facebook, and Amazon are likely to be among the companies that are being scrutinized by the agency.
Makan Delrahim, head of the Justice Department's antitrust division, said in a statement:
The federal government has recently been increasing pressure on tech companies such as Facebook and Google. A report published by the Wall Street Journal last month had claimed that the Justice Department and Federal Trade Commission had agreed on dividing the antitrust investigation against leading tech companies. The DOJ would investigate Apple and Google, while the FTC would focus on Facebook and Amazon. However, the review announced by the Justice Department on Tuesday is said to be separate from those investigations.
Facebook, according to reports, will have to pay a $5 billion fine to the FTC for its mishandling of users' personal information. An official announcement by the FTC regarding the settlement is expected this week. Lawmakers are also highly critical of the company's Libra cryptocurrency and want its development to be halted. Google, on the other hand, is expected to pay millions to the Federal Trade Commission for YouTube violations of the Children's Online Privacy Protection Act (COPPA).
Google will have to pay millions to FTC for YouTube violations of kids privacy laws
We already know the answers, so I guess they're looking to confirm.
Bring back Myspace.
Will the victims see any of those billions of dollars? When these fines are paid...where does the money go? Hey, who's that rattling my door? What do you mean I'm posting inflammatory speech! Wait!...what?!.... oh no.......
This is the FBI sir! We are here rattling your door because you are insulting our sense of idiocy...aka you are making us look stupider and more incompetent then we already are! Before we arrest you and send you on a permanent vacation to sunny Guantanamo Bay in lovely Cuba, we would like to take this opportunity and apologize for the clown show that is the Muller testimony. We, the Department Of Justice, as well as the current White House occupant, operate in single digit IQ territory aka Google is smarter than us. Have fun with our "enhanced interviewing" techniques! We hear water boarding is especially fun!!!
Good about time...but unfortunately we all know that it won't amount to anything else but another sad and pathetic side show under the guise of "uhhhhh, look at us we are doing something..." What can you expect from a toothless enterprise?
Always a day late and a dollar short. The destruction and elimination of their competitors had already been done while they sat aside and did nothing. All the damn politicians on both sides of our flawed two party system have already been bought and sold in their climb to the top.
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