The likes of Facebook and Amazon should be worried as pressure mounts over anti-competitive behaviour
Google, Facebook, Amazon and Apple are having a good pandemic. As social distancing and border closures force commerce, retail and socialising online, their market dominance and ubiquity has become further entrenched despite increasing regulatory scrutiny.
Their second-quarter results on Thursday gave Big Tech something to smile about, as revenues for all four firms exceeded analysts’ expectations. The results followed a marathon grilling of their CEOs, Sundar Pichai, Mark Zuckerberg, Jeff Bezos and Tim Cook, by the US Congress on Wednesday about whether their companies are guilty of anticompetitive behaviour and compromising democracy through cannibalising media content, promoting online hate and election rigging.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US Congress mistakes Big Tech oligopolies for monopoliesA bigger worry concerns suppliers, as platform companies depend on a network of third-party companies, often demanding a larger share of their revenue, writes Noah Smith
Read more »
GROUNDUP: Creecy poised for West Coast wind farm decisionNew concerns raised over impact of transmission line connecting the project to the grid.
Read more »
IN MEMES | Mzansi feels like Big Boy’s motivational speech was directed at themBig Boy was actually spitting bars ...
Read more »
MTN expects profits to more than doubleThe mobile operator expects headline earnings per share for its six months to end-June to rise as much as 125%
Read more »
MTN expects profits to more than doubleThe mobile operator expects headline earnings per share for its six months to end-June to rise as much as 125%
Read more »
Global foreign exchange markets hold key to planningImporters seem to have shifted from longer-term hedging instruments to trading mostly in spot market
Read more »