NBC News: Break up Big Tech? With congressional probe, the idea may be gaining steam
The calls to break up Big Tech are not going away. If anything, they may be growing more serious.
That was the bottom line for some antitrust lawyers and other technology industry analysts who watched members of Congress spend five and a half hours Wednesday grilling major tech CEOsabout monopoly power on the internet.
It was also the conclusion of Rep. David Cicilline, D-R.I., who presided over the hearing as the chairman of the House Antitrust, Commercial and Administrative Law Subcommittee — and who has become a chief antagonist of Silicon Valley.
“This hearing has made one fact clear to me: These companies as they exist today have monopoly power. Some need to be broken up. All need to be properly regulated and held accountable,” he said as the hearing ended Wednesday evening.
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Sarah Miller, executive director of the American Economic Liberties Project, an advocacy group that opposes monopolization, said the hearing created momentum that will carry forward into other hearings and legislation.
“It has probably been decades since a committee in Congress has brought a deeply researched and aggressive approach to major corporate actors,” she said. “I really have not seen anything like this in 15 years in politics.”