Monopoly and Antitrust Issues in Big Tech

Big tech companies like Facebook, Google, Apple, and Amazon have become monopolies, leading to a lack of motivation for innovation in areas like privacy. For instance, Facebook faced data breaches and the Cambridge Analytica scandal without significant changes. The issue extends to marketplaces provided by these companies, such as Apple's App Store, where they compete unfairly by charging app providers a 30% fee but exempting themselves. Amazon abuses its marketplace dominance by copying successful third-party products. The monopolistic behavior makes it difficult for new challengers to receive funding, creating 'no-fly zones.' Addressing these monopoly and antitrust issues is crucial, as historical examples like the breakup of AT&T leading to the telecommunications revolution and regulatory actions against Microsoft enabling Google's emergence demonstrate the positive impact of such interventions. Chair of the FDC, Lena Khan, emphasizes the necessity to pressure and regulate big tech companies as monopolies to enhance competition and address concerns regarding digital surveillance and AI.