Morgan Stanley M&A chief says breaking up Big Tech 'doesn't make any sense'
and Google CEO Sundar Pichai will all testify Wednesday before the U.S. House of Representatives' antitrust subcommittee. The questions they'll receive could be a window into the thinking of 15 members of Congress, who will then make recommendations on potential remedies such as new competition laws or company breakups.
The subcommittee is expected to examine Facebook's market share of social media, including its ownership of WhatsApp and Instagram, along with its co-dominance of digital media advertising with Alphabet's Google. The subcommittee is also expected to probe Apple's control over applications through its App Store policies andby leveraging third-party merchant data to champion its own products.
"There is growing evidence that a handful of gatekeepers have come to capture control over key arteries of online commerce, content, and communications," House Judiciary Chairmansaid when the committee announced its bipartisan investigation last year. "Given the growing tide of concentration and consolidation across our economy, it is vital that we investigate the current state of competition in digital markets and the health of the antitrust laws.
Politicians and technology executives have spoken up in the past two years about the growing dominance of the largest technology companies -- specifically Amazon, Apple, Facebook and Google -- whose combined market valuation is nearly $5 trillion. Elizabeth Warren, a
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