Could big tech face big consequences?
Capitalism has gotten some of the most prosperous nations to the point where they are today by spurring competition and innovation. However, countries realised long ago that there are limits to the free market.
When a company becomes too big, it will be able to abuse its power in order to gain a further favourable position, which turns into a snowball effect. Hence, many governments around the world have created antitrust laws in order to prevent such situations; so corporations are not allowed to use their large size to gain unfair advantages.
Some of the largest companies today, especially large technology firms like Facebook, Amazon, Apple and Google, are facing antitrust issues around the world, including their home country – the United States.
Apple and Google control more than 95% of all mobile app spending by consumers in the US. Spotify Technology SA is among those that have long complained about the 30% cut Apple takes of each app, claiming it amounts to an effective tax on competitors.Bloomberg
Antitrust probes have been made against big tech in the past, but it is difficult to keep track of. Bloomberg has compiled a list of the largest tech companies and the antitrust cases against them, as well as the defence of the companies against these cases.
Read more about these cases and the defence of each company here.
