Big Tech’s most ardent critics have gained momentum in pursuit of an antitrust overhaul to curb the power of companies such as Amazon and Google that have become integral to the everyday lives of millions of Americans. Big Tech companies must be taken down a few pegs.
The view that the tech giants are monopolies has united Big Tech’s bipartisan detractors, who say Congress has an uncommon moment to deal a lasting blow. The most viable in the pipeline is the American Innovation and Choice Online Act. The bill’s supporters say it would make measured and necessary changes to antitrust laws to combat Big Tech. The tech companies and their allies in Congress say Americans rely on and love the products and warn that the legislation would destroy them. The legislation takes direct aim at Amazon, Apple, Google and Facebook, which now operates as Meta, by seeking to prevent the companies from giving preference to their products on their platforms to the detriment of competitors.
Under the legislation, online platforms with more than 50 million monthly active users or 100,000 U.S.-based monthly active users would be blocked from putting their products and services ahead of different businesses if it materially harms competition. Antitrust enforcers from the Federal Trade Commission, the Justice Department and the states would have authority to enforce the law.