Lawmakers argue that big tech will grow even bigger as the pandemic drives people online
In his opening statements, the chairman of Wednesday’s historic tech hearing argued that regulating tech’s most dominant players is vital in the midst of the ongoing pandemic that has driven even more of American life online.
“Prior to the COVID-19 pandemic, these corporations already stood out as titans in our economy,” House Judiciary Antitrust Subcommittee Chair David Cicilline said. “In the wake of COVID-19, however, they are likely to emerge stronger and more powerful than ever before.”
The argument that tech stands to benefit from the COVID-19 crisis is a smart one — and a timely attack that’s difficult to dispute. While many major companies in other industries are struggling, grappling with layoffs or filing for bankruptcy, many of tech’s largest tech companies stand to emerge from the economic storm largely unscathed if not better off.
In his own opening remarks, ranking member Jim Sensenbrenner also argued that because Americans are relying more on online companies than ever before, tech’s power must be examined in light of the pandemic.
“That responsibility comes with increased scrutiny of your dominance in the market,” Sensenbrenner said.