House lawmakers plan a sweeping review of Facebook, Google and other technology giants to determine if they’ve become so large and powerful that they stifle competition and harm consumers, marking a new, unprecedented antitrust threat for an industry that’s increasingly under siege by Congress, the White House and 2020 presidential candidates.
The probe, announced Monday by Rep. David Cicilline (R.I.), the leader of the House’s top anti-trust subcommittee, is expected to be far reaching and comes at a moment when Democrats and Republicans find themselves in rare alignment on the idea that the tech industry has been too unregulated for too long. The sentiment spurred a sharp sell-off in tech stocks to start the week.
Cicilline said the investigation won’t target one specific tech company, but rather focus on the broad belief that the “Internet is broken,” he told reporters. In doing so, he pointed out problematic practices at tech giants such as Google, which has faced sanctions in Europe for prioritizing its own services in search returns over those of its rivals, and Facebook, which Cicilline criticized for acquiring competitors or copying their services to ensure its continued dominance in social networking.”