SA: House antitrust panel's report urges tackling 'monopoly power' at four tech giants

SEEKING ALPHA reports:

The House antitrust subcommittee has released its report on Big Tech after a 16-month investigation, concluding that four tech giants – Alphabet (GOOG, GOOGL), Amazon.com (NASDAQ:AMZN), Apple (NASDAQ:AAPL), and Facebook (NASDAQ:FB) – enjoy “monopoly power,” and that antitrust laws need changes that might result in business separations.

The near-450-page report features a swath of recommendations, including imposing structural separations, and prohibiting dominant platforms from entering adjacent business lines – what subcommittee Chairman David Cicilline has called a “Glass-Steagall” law for the Internet. It also recommends instructing agencies to presume that mergers involving dominant platforms are anticompetitive, shifting the burden of proof onto the merging parties.

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