Apple, Amazon, Facebook and Google grilled over claims of 'destructive' power

Ruben Fields
July 31, 2020

Amazon stood in a league of its own, reporting net income that doubled over previous year to $5.2 billion, and net sales that grew 40% during the quarter, with pandemic-related spending on e-commerce platforms strongly benefiting Seattle-based company.

The California tech giant saw a modest increase in iPhone sales, with more significant rise for accessories and services such as its apps and digital content.

Democrat lawmakers bin question di tech ogas about competition mata while Republicans bin dey more concerned about how dem dey manage information and whether dem dey hide views of pipo wey dey conservative.

In a tweet before the hearing, President Donald Trump challenged Congress to crack down on the companies, which he has accused, without evidence, of bias against him and conservatives in general.

COVID-19 worst global health emergency so far
Director-General Tedros Adhanom Ghebreyesus said during a press conference in Geneva that the pandemic "continues to accelerate". Tedros said that while notable efforts have been made in countries around the world, there is a "long, hard road ahead of us".

He will also remind lawmakers of the competitive threat US tech companies face from China, saying the Asian country is building its "own version of the internet focused on very different ideas, and they are exporting their vision to other countries".

Big Tech firms delivered robust results Thursday, highlighting the lifeline they have provided during the pandemic as well as their extraordinary economic power which was the subject of an intense congressional hearing a day earlier. Alphabet's ad business was hit more prominently by that trend, with Google ad revenue falling 8% over past year, though Alphabet's overall top- and bottom-line results still topped estimates. The proposed changes would strip some of the bedrock protections that have generally shielded the companies from legal responsibility for what people post on their platforms. One of them, Bezos, is the world's richest individual; Zuckerberg is the fourth-ranked billionaire.

In its bipartisan investigation, the Judiciary subcommittee collected testimony from mid-level executives of the four firms, competitors and legal experts, and pored over more than a million internal documents from the companies.

Im say, di firms dey do monopoly and e call for action. While forced breakups may appear unlikely, the wide scrutiny of Big Tech points toward possible new restrictions on its power. "In the wake of COVID-19, however, they are likely to emerge stronger and more powerful than ever before". "We also compete globally, including against companies that have access to markets that we aren't in", Zuckerberg will tell a panel of lawmakers investigating how its business practices and data gathering have hurt smaller rivals.

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