Facebook, Amazon, Google and Apple Have ‘Monopoly Power’ Over Competitors, House Subcommittee Finds

Apple, Amazon, Facebook and Alphabet, the parent company of Google, enjoy “monopoly power” over their competitors, according to a 449-page report from the House Judiciary subcommittee on antitrust released on Tuesday afternoon. The report, spearheaded by a Democratic majority, recommended Congress change current antitrust laws to better account for the digital world, with the aim of breaking up the “Big 4” tech giants into smaller companies. Here’s one sample of the report’s position on Facebook: “During the investigation, Subcommittee staff found evidence of monopolization and monopoly power. For example, the strong network effects associated with Facebook has tipped the market toward monopoly such that Facebook competes more vigorously among its own products–Facebook, Instagram, WhatsApp, and Messenger–than with actual competitors.”