In a 449-page report that was presented by the House Judiciary Committee’s Democratic leadership, lawmakers said the four companies had turned from “scrappy” start-ups into “the kinds of monopolies we last saw in the era of oil barons and railroad tycoons.” The lawmakers said the companies had abused their dominant positions, setting and often dictating prices and rules for commerce, search, advertising, social networking and publishing.
Marketing needs a culture of creativity
Marketers need to deploy creativity against strategic opportunities, a broad audience and balancing long-term and sales-generating activity.
“A wholesale ban will undoubtedly trigger retaliation and may contribute to the type of fracturing of the internet that we have witnessed in recent years, and which authoritarian governments favor,” said Ron Deibert, the director of the Citizen Lab research group at the University of Toronto’s Munk School of Global Affairs and Public Policy.
Almost half of marketers plan budget cuts in the second half – Marketing Week
Despite lockdowns easing and the threat of the pandemic receding in the UK, at least for now, 30% more marketers are planning to cut their budgets than increase them in the second half of the year.
“The strong continue to get stronger,” said Dan Ives, managing director of equity research at Wedbush Securities. “As many companies are falling by the wayside, the tech stalwarts continue to gain muscle and power in this environment.”
“As gatekeepers to the digital economy, these platforms enjoy the power to pick winners and losers, shake down small businesses and enrich themselves while choking off competitors,” said Representative David Cicilline, Democrat of Rhode Island and chairman of the House Judiciary Committee’s antitrust subcommittee. “Our founders would not bow before a king. Nor should we bow before the emperors of the online economy.”
“It has the feeling of tech’s Big Tobacco moment,” said Gigi Sohn, a former senior adviser at the Federal Communications Commission and a fellow at Georgetown University’s law school, referring to the 1994 congressional appearance of top executives of the seven largest American tobacco companies, who said they did not believe that cigarettes were addictive.