Big Tech Groups Have Thrown $36 MILLION Behind This Agenda
(ConservativeHub.com) – Over the past few years, Big Tech companies have grown larger, making some consumers a little wary of how much control they have over their products, news narratives, and the marketplace. With this in mind, legislators have been drafting bills to address how much power and sway major companies have. But, these businesses are now pushing back against the potential laws with millions of dollars.
Big Tech Advocacy Groups Spend Over $36 Million
On Thursday, June 9, the Wall Street Journal reported lobbying groups funded by major tech companies have spent $36.4 million on various ads decrying new anti-trust legislation. Specifically, they’re speaking out against the American Innovation and Choice Online Act, introduced by Senators Amy Klobuchar (D-MN) and Chuck Grassley (R-IA). The bill would stop companies like Amazon and Meta from giving their own products preferential treatment.
Advocacy groups bankrolled by big technology companies have poured at least $36.4 million into TV and internet ads opposing antitrust legislation that would bar dominant tech platforms from favoring their own products and services https://t.co/GCLMyeAAQG
— The Wall Street Journal (@WSJ) June 9, 2022
Senate Majority Leader Chuck Schumer (D-NY) recently announced he would get the upper chamber to vote on the bill before the August recess, which has forced the lobbyists to push that much harder for their opinion in recent weeks.
Understanding the Pushback From Tech Companies
Aside from the obvious point that this new legislation would push products made by companies like Amazon and Google away from the top spots on their site, there are other concerns facing these companies. On Tuesday, June 7, Google’s Vice President of Engineering for Privacy, Safety, and Security, Royal Hansen, published a blog post saying anti-trust laws would “compromise” security and “break popular features in products like Search and Maps.”
Speaking to the security point, Hansen noted, “Every second counts” when dealing with hackers. He claims scammers and hackers could do enormous damage to customers in the time it would take cybersecurity teams to double-check certain security decisions.
Would Amazon Survive an Anti-Trust Bill?
In a similar post from Amazon, a company representative asked sellers to write to their congressional representatives to oppose the new bill, saying it “could jeopardize Amazon’s ability to operate a marketplace service.” However, it’s unknown whether this would truly be the case.
While these major companies spend tens of millions of dollars to oppose this legislation, many smaller tech companies hope it passes to give them a chance to get back in the game. With so much heated debate around this bill, it is a great time to research it more and call your representative to let them know whether or not you support such a measure.
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