In a move that might come as a surprise to many, Senator Elizabeth Warren has pledged that if she gets elected as President next year, she is going to break the nexus of the big companies like Facebook, Google, and Amazon, according to a report by TechCrunch.
In a conservationist approach, Elizabeth proposes legislation in order to rein in the influence of tech giants who seem to be having a big impact on American lives.
“In the 1990s, Microsoft was trying to parlay its dominance in computer operating systems into dominance in the new area of web browsing. The federal government sued Microsoft for violating anti-monopoly laws and eventually reached a settlement. The government’s antitrust case against Microsoft helped clear a path for Internet companies like Google and Facebook to emerge,” says Elizabeth Warren in her blog post.
The key components of the Warren plan include bringing legislation that would designate companies with annual revenue above $25 billion that provide a marketplace, exchange or third-party connectivity as ‘platform utilities’. These companies will not be allowed to own both the platform utility and the participants on the platform.
Elizabeth Warren, an ardent supporter of increasing competition in the tech space said that she would select regulators who would seek to break up the ‘anti-competitive mergers’ such as Facebook’s recent acquisition of Instagram and Amazon’s purchase of Whole Foods.
Elizabeth Warren is first among the Democrats to take such a stance regarding the tech companies which could shape the debate in the primary election.
Elizabeth stressed the fact that the big tech companies have become more powerful and they have used their resources to suppress small businesses which is not a good sign for the future as these big tech companies place their financial interests over the broader interests of American people.
“To restore the balance of power in our democracy, to promote competition, and to ensure that the next generation of technology innovation is as vibrant as the last, it’s time to break up our biggest tech companies,” she concludes.