The Tech World

by | Oct 13, 2020

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Big tech is facing off with the feds—and some of the biggest companies in the world are feeling the heat.

This week, a 15 month investigation by the House Judiciary Committee wrapped up its report, calling for Congress to rein in tech companies—a process that could end in the businesses being broken up. Among those businesses? Facebook, Google, Amazon and Apple.

For decades, these companies have enjoyed little regulation and an all-star status on Capitol Hill. But the past few years have brought a change of heart. Now some of them are in the middle of false information, privacy issues and hate speech.

In addition to possibly splitting up the companies, Democratic lawmakers also want to make it harder for them to acquire other companies and want to impose new rules to safeguard the competition.

If any of these changes are put into action, it wold mean the biggest federal overhaul in almost 20 years.

Another main complaint of the committee—monopolizing power. Google owns the market for search, while Facebook dominates social media.

Business is booming, but may be more challenging.

Brian Banmiller

About Brian

CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.

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