US investigations into BigTech

US investigations into BigTech


The U.S. Department of Justice is launching an antitrust investigation of BigTech companies. The statement went as follows - "The Justice Department announced today that its antitrust committee is investigating how leading online platforms have been able to dominate the market and whether they are engaged in activities aimed at reducing competition, suppressing innovation and causing other harm to consumers - and how," - reported in the release. The release said the investigation would address the concerns of consumers, companies, and entrepreneurs regarding search platforms, social networks, and retailers.

The decision of the Department of Justice is not surprising, especially following multiple scandals associated with data collection, privacy and marketing strategies. The information society makes it easy and relatively cheap for BigTech companies to misuse the scope of their business in the relatively new market, ith a lack of regulation. According to Lloyd "The danger today is that data flows are invisible". The individual consumer using internet platforms may be unaware of what is collected and how it is used, and for the same reason the anticompetitive practises that prevent smaller firms from entering the market or developing further might also be hidden behind the "screen".

Following the suit, In June, the U.S. House Judicial Committee announced it would begin verifying compliance with antitrust laws in digital markets. Several U.S. media, such as the Wall Street Journal reported that the antitrust investigation could affect technology giants such as Facebook, Amazon, Google and Apple. This investigation might become one of the largest in the modern history of antitrust regulations in the digital markets, providing a stepping stone for practitioners from all around the world.