As the saying goes, the sun never sets on Google’s empire. However, antitrust laws have grown in recent years. All indications are that the position of the big tech companies will only get worse.
So Jeff Bezos’s departure from # 1 at Amazon would have been a timed event as he left during his advance. As I mentioned earlier – “talking about something” can be more nuanced – this is a widespread problem. Tech giants around the world have walked the wrong foot. While governments have spent most of the past 20 years transcending tech industries, these sources of benevolence are drying up.
But what does this mean for cryptocurrencies? Although the crypto industry sometimes acts as an island, it is still closely related to the mainland industry. But the current players in the cryptocurrency industry are not really under the radar of antitrust laws. However, the industry-leading decentralized management mechanisms, open source software, and real-time visual data are gaining more attention as regulators take action to address abuse of customer data and private digital secrets at companies like Facebook. hail. In fact, a number of regulators see blockchain technology as a way to protect data about companies that they may want to screen for anti-competitive practices.
As a reminder, the first major lobbying of antitrust laws occurred in the United States after the Civil War as a means of combating the dominance of the Rockefeller / Vanderbilt / Carnegie era in the shipping, rail, steel, and oil industries – a networking critical to the mission of one nation that recently split itself. Likewise, modern alternatives such as AT&T and Microsoft have been the most popular in the past 50 years. Political hatred for Web 2.0 authorities continues to grow and appears to be pouring in a new wave of antitrust laws.
Chaos in mergers and acquisitions
Yesterday, Amy Klobuchar, chair of the Senate Antitrust Subcommittee, introduced a new bill on revising the core US antitrust laws.
The new law places special emphasis on technology, providing a significant increase in the budgets of the Federal Trade Commission and the Department of Justice’s antitrust department. In particular, it creates new powers to collect data and prevent new mergers and acquisitions between large companies. The relevant legislation is expected to be promulgated in the Parliament’s Anti-Monopoly Sub-Committee.
After a flurry of antitrust lawsuits against Google, Facebook and the Department of Justice against the takeover of Visa and Intuit fintech, the new legislation is likely to spark a wave in an industry that has become dependent on a user-eating strategy. data.
Although the current bill has four sponsors, they are all Democratic senators. The party has an overwhelming majority in the House of Representatives, but only a small number of votes in the Senate. Many business Republicans will likely disagree with the broad provisions of the current bill, but the big tech companies appear to be out of friends in Congress on both sides of the corridor. sound! The city administration is staffed by former Facebook employees, and the Big Four has become one of the largest lobbying firms in the country. That always works wonders.