Wealthy Americans Bat For Antitrust Violations For Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc (NASDAQ:GOOGL)’s Google, And Facebook, Inc. (NASDAQ:FB)

Politicians, including Democrats and Republicans, are wary of large tech firms: Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc (NASDAQ:GOOGL)’s Google, and Facebook, Inc. (NASDAQ:FB). Wealthy Americans observe the same echo in the US about large tech companies. They believe that the US government should pursue antitrust violations against these tech companies.

Trust in large tech companies declines

According to the findings of the recent CNBD Millionaire Survey, 49% of the wealthy Americans support the US government to pursue antitrust violations against Amazon, Facebook, and Google. Around 30% of the respondents are neutral, whereas 21% disagreed with the opinion.

Majority of Politicians support antitrust probe

Around 56% of the Democrats agree for antitrust violations when compared to 45% of the Republicans. The Federal and state agencies are probing Facebook and Google for antitrust violations. Donald Trump, President of the US, has expressed his ire against Jeff Bezos, CEO of Amazon, and Amazon. He also ranted against the company for censorship and social media bias.

Letitia James, the attorney general of the New York state, said forty-seven attorney generals from the US territories and states plan to participate in the antitrust probe led by the New York State into Facebook. Seven other states also will join the investigation announced in September 2019. They will probe whether Facebook has violated any of the federal and state laws with respect to the anti-competitive conduct. According to Letitia, Facebook may have lowered the quality of options to the consumers and put the consumer data at risk.

Bats for the breakup of large tech companies

Elizabeth Warren is batting for the breakup of large tech companies. Democrats have little faith in Facebook about its ability to contain offensive content.

Among the politicians, Republicans said the expansion of large tech companies is beneficial for the consumers. Politicians are rallying against Amazon, but they purchased several items from this company. According to Amazon, several million devices are sold during the holiday season. It is a favorite for Americans to order their daily needs and smart gadgets with two-day and one-day delivery options.

According to Gallup in August 2019, the public opinion towards the tech companies is positive. However, their opinion towards other companies is more positive when compared to tech firms.

Leave a comment

Your email address will not be published. Required fields are marked *