Google, apple, facebook to faceoff Congress

WASHINGTON (GN) - Tech’s biggest giants will once again be in the congressional hot seat this week, facing down hearings on antitrust and Facebook’s Libra currency. In each case, though, the real question they’ll confront is whether the US government should amp up its efforts to regulate them.

The hearings, held on Capitol Hill, have academic titles like “Online Platforms and Market Power, Part 2: Innovation and Entrepreneurship.” That one, scheduled for Tuesday with the House Committee on the Judiciary, is to discuss antitrust issues with representatives from Amazon , Apple , Facebook and Google . The Senate Banking Committee will meanwhile hold a hearing called “Examining Facebook’s Proposed Digital Currency and Data Privacy Considerations” to discuss the social network’s Libra currency that the company hopes will change the way we make everyday purchases.

These hearings represent the latest in the ever-evolving dance between tech giants and lawmakers on Capitol Hill -- one that’s quickly becoming an issue in the upcoming US presidential race. At stake is how government will regulate the tech industry , which has grown to be one of the world’s largest and most powerful groups. Amazon and Apple are both worth nearly a trillion dollars, while Google and Facebook draw audiences that number into the billions.

 

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