Dana Mattioli, Amazon, Facebook discussed on The KFBK Morning News
Now trending on the KFBK Morning News with Christina and Dancer and Sam Shane this morning. CNN reporting the U. S government has been investigating a report of a leak at a Chinese nuclear power plant. French company that owns part of that plan is reportedly warned of an imminent threat from a leak radioactive material this morning. The by administration reportedly does not consider that lead could be a serious threat. Big tech companies have been under increasing scrutiny from lawmakers and the courts. Amazon and Apple are under antitrust investigation, while Facebook and Google are already fighting antitrust lawsuit. Dana Mattioli works for the Wall Street Journal and says there are five bills under consideration. They come on the heels of a nearly two year investigation into Big tech. And the investigation looked at Amazon, Apple, Facebook and Google and the learnings of that investigation, You know, inform these bills, and some of them could be pretty earth shattering for these companies. One bill that would impact Amazon, the most would stop the company from selling items and then competing against those items with their own private label goods. Think of like the echo. Okay. Okay, So all of the bills are moving forward now that congressional reviews are complete. So in 2019, the congressional antitrust subcommittee launched an investigation of these four tech companies. And over a series of hearings and background conversations and off the record conversations. They came to a conclusion that each of the four companies that they looked into had some aspect of monopoly power. In October. They put out a 400 page report detailing that and you know, when you look at the legislation coming out today, that is largely based on the findings of that report. So all of these bills were introduced on Friday, and they'll be discussed throughout this this coming week here. And support for the bills are bipartisan. But lobbyists are now activated. Oh, you mean the lobbyists paid for by Google and Amazon? All of them have have, you know armies of these lobbyists. In fact, Facebook Is more for lobbyists than any country in the country right now, Right? Any company in the country so this may soften the teeth of many of these bills. These four companies, in particular have massive massive armies of lobbyists. They spend more than almost any other company in the US on their lobbying power, So you have to believe that behind the scenes they are starting to get in touch with, you know the lawmakers and you know, really engaging their lobbyists and other trade group. So this might be a time if you have feelings either way to to reach out to your representative because they're going to be discussing these bills upcoming there, five of them and they don't mention any of the companies by name. But the parameters for the legislation are so narrow that these are the only four companies that would follow within those parameters. Well, you know, from just from what you described right now we can sit back and say Okay, this is a good first step. Yes, Um, but we had a long way to go. It's going to be a long way. Let's not be naive. We we know that. You know, big text going to just they're going to throw so much money at this fight, and it's going to be a nasty one. And this is the beginning. But I mean, look, I don't do We need a report for us to to understand that that these guys are all their monopolies. I mean, there they have a stranglehold, so the glimmer of hope in all of this is that the bills are bipartisan, so there seems to be appetite on both sides to do something. So whether you know or not, the lobbyists can soften the teeth of these bills that remains to be seen. But But there is an appetite at least that something needs to be done better late than never. 5 20 is the time out to the roads we go. Let's check in with.