Should Tech Investors Worry About Antitrust?
Earlier this week, the House subcommittee on antitrust reform released a 450-page report after their 16-month investigation into the country's largest technology companies: Amazon (NASDAQ: AMZN), Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), Apple (NASDAQ: AAPL), and Facebook (NASDAQ: FB).
The report's authors, including judiciary chairman Jerrold Nadler and antitrust subcommittee head David Cicilline, didn't paint a pretty picture, stating, "Our investigation leaves no doubt that there is a clear and compelling need for Congress and the antitrust enforcement agencies to take action that restores competition, improves innovation, and safeguards our democracy."
The report basically recommended throwing the gauntlet at big tech by breaking up their respective dominant market positions, preventing major acquisitions, and reforming outdated antitrust laws for the modern age.
Source Fool.com
