In the end, the expected delay to the release of a congressional report on the power of big tech was only a few hours, but the impact of the 449-page document itself could last for years
Published late on tuesday by the democrat-controlled house of representatives antitrust subcommittee, it amounts to a justification and a road map for what would be the biggest assault on corporate power in the technology industry since the 1990s, according to our reporters in washington and san francisco.
By controlling access to markets, these giants can pick winners and losers throughout our economy. they not only wield tremendous power, but they also abuse it by charging exorbitant fees, imposing oppressive contract terms, and extracting valuable data from the people and businesses that rely on them, it said.
It advocates rewriting us antitrust law so that tech companies could be forced to break themselves up so that they cannot use dominance in one area to harm rivals in another. the republican minority did not support the recommendations, but democrats expect joe biden, should he win the presidential election, and a new congress to take them up.
Amazon, apple, facebook and google are each accused of choking off competition unfairly in different ways. the report alleges amazon routinely uses third-party seller data to help improve and sell its own products. apple allegedly uses its dominant app store to benefit its own applications and hinder those made by rival companies.
Facebook had maintained its monopoly through a series of anti-competitive business practices, including buying up potential rivals such as instagram. google had demanded that smartphone makers using its android operating system should install its chrome web browser as standard.
These firms have too much power, and that power must be reined in and subject to appropriate oversight and enforcement. our economy and democracy are at stake, said the chairs of the judiciary and antitrust committees.
The ft view is that surveys show consumers fret about data privacy and, indeed, about whether the tech giants are too powerful but enjoy the innovations, free-to-use services and often lower prices they provide.
1. facebook intensifies qanon crackdown facebook has escalated its action against the pro-trump qanon conspiracy theorists, saying it will cull all qanon pages from its platform ahead of next months election. it is updating its policies to ban facebook pages and groups representing qanon as well as its instagram accounts.
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3. arm ceo fears china delayssimon segars, chief executive of chip designer arm holdings, expects tough and protracted scrutiny from china over nvidias $40bn takeover of the company, as tensions rise over the implications of the contentious deal for the global chip industry. chinas chipmakers are concerned the us company will have control over essential technology used in many of the worlds smartphones and data centres. regulatory clearance across all markets would take a long time, mr segars told the ft.
4. china seeks lead as tech standards bearerthe us fears china is trying to shift the world towards a distinctly chinese set of tech standards and protocols. the effort includes increasing its influence in the un and other standards-setting bodies. todays big readexplores how beijing is seeking to establish the industrial standards that will shape future industries. the latest #techasia newsletter looks at how a new cold war between the us and china is accelerating the break-up of the worlds tech supply chain.
5. crispr women share nobel chemistry prizethis years nobel prize in chemistry has been awarded to emmanuelle charpentier of france and jennifer doudna of the us for their pioneering work in developing the crispr gene-editing technique that has transformed biology research. it has not only revolutionised basic science but also resulted in innovative crops and will lead to groundbreaking new medical treatments, said claes gustafsson, chair of the nobel committee for chemistry, on wednesday.
There hasnt been a fitness band as sophisticated as the whoop strap 3.0, writes jonathan margolis. it comes from a boston company founded by a former captain of the harvard squash team and monitors principally heart-rate variability (hrv), ameasure of the variation in time betweeneach heartbeat, only picked upnormally by a full ecg.the extra power it has at its disposal from the lack of a display means it can measure your vitals hundreds of times a second, unlike a normal band, which checks you out intermittently. the whoop strap3.0 is supplied as part of a membership costing from25 per month.