Soon, over 50% of the country’s AGs are anticipated to declare an antitrust probe into Google, the media reports. Info on the probe is vague, but it is yet another investigation into fears that big tech has gathered too much influence.
Both Republicans and Democrats have shown concerns that just a few of firms manage the technology and internet at large. Previously this summer, an antitrust subcommittee of the House grilled officials from Apple, Amazon, Google, and Facebook. In May, users learned that the Department of Justice was mulling over an antitrust probe into Google, and Google approved to a settlement after an antitrust probe by FTC. The EU has slapped the firm with its own violations and fines.
While Congress appears determined to reigning in big tech, it seems uncertain of precisely how to do so. It is bot clear why the AGs are probing Google particularly, or if they will probe Apple, Amazon, or Facebook, as well. We will have to wait for more info.
On a related note, the Libra cryptocurrency project by Facebook is being investigated again, this time by EU antitrust watchdogs. The European Commission claimed it is “presently probing potential anti-competitive practice,” associated to the Libra Association, media claimed. In a questionnaire sent out last month, the EU authority showed worries that Libra might unjustly overtake rivals.
The probe, still in its early phases, is studying the membership and governance structure of the Libra Association. The independent, purpose-developed nonprofit is meant to rule the digital currency. Founding members comprise the likes of PayPal, MasterCard, eBay, Visa, Uber, Spotify, and Lyft. As per media, watchdogs fear that the way data will be swapped and the employment of user data might produce “possible rivalry restrictions.” The US Treasury has already showed its “grave concerns” related to Libra.