The Federal Trade Commission today ordered five big tech companies to provide detailed information about their previous acquisitions of small companies, expanding the agency's investigation into possible antitrust concerns in digital markets.
Looks like Alphabet (Google), Amazon, Apple, Facebook and Microsoft are in the regulatory hot seat this year.
Maybe there's antitrust action in the works, who knows.
Wow, the FTC is asking Alphabet / Google, Amazon, Apple, Facebook and Microsoft for a whole lot of historical, non-public information that may be helpful for antitrust enforcement. https://t.co/H4QD2XeXcg
— David Ingram (@David_Ingram) February 11, 2020
Many giant companies are convinced that their dominance is due to their genius and innovation. But the truth is that so many can get big by swallowing up or shutting down potential threats. They don't need to invent killer apps if they can stay on top through killer acquisitions.
— Rohit Chopra (@chopraftc) February 11, 2020
Google didn't invent YouTube. Facebook didn't invent Instagram. And the list goes on and on.
That's why I voted to order @Google, @Facebook, @Amazon, @Apple, & @Microsoft to hand over a decade of records about their buying binge. https://t.co/JjlJzsRUdo
— Rohit Chopra (@chopraftc) February 11, 2020
These deals are about big data. Companies across the economy are in an arms race to soak up every source of data and monetize it.
Many of these mergers fly below the radar. The @FTC orders will provide clarity on why boardrooms are shelling out billions for our personal data.
— Rohit Chopra (@chopraftc) February 11, 2020
Acquisitions offer an important window into the surveillance-based advertising model used by the likes of @Google & @Facebook. I joined @CSWilsonFTC to call for another inquiry so we can open the books on how this business model can monetize manipulation. https://t.co/DNAd2aZWii
— Rohit Chopra (@chopraftc) February 11, 2020
The FTC issued 'special orders' to the companies to disclose information on past acquisitions that weren't reported to antitrust authorities. $GOOGL, $AMZN, $MSFT, GOOGL https://t.co/JcpYQZT6vv
— TheStreet (@TheStreet) February 11, 2020
This is good. Now imagine if FTC & DOJ were merging their efforts & pursuing joint enforcement against #BigTech. That's what my new FTC reform would achieve https://t.co/xNIEf3NJld
— Josh Hawley (@HawleyMO) February 11, 2020
It's eye-catching both on substance and because it's the FTC wielding an established authority that critics, including @chopraftc, have been nudging the agency to use more. https://t.co/DkZ27BzVwb
— Nancy Scola (@nancyscola) February 11, 2020
FTC Chair Joe Simons: "This initiative will enable the Commission to take a closer look at acquisitions in this important sector, and also to evaluate whether the federal agencies are getting adequate notice of transactions that might harm competition" https://t.co/RjMhlUiWyU
— John Hendel (@JohnHendel) February 11, 2020
The FTC announced it will review past acquisitions by Alphabet, Amazon, Apple, Facebook and Microsoft. This will cover deals the federal agencies did not previously have to clear because they fell below the reporting threshold. https://t.co/b8VUbBjEMj
— Lauren Feiner (@lauren_feiner) February 11, 2020
NEW: FTC to study past mergers by Amazon, Alphabet, Apple, Facebook and Microsoft, seeking records in a move that could later lead to significant antitrust enforcement https://t.co/PlFIatKDAe
— Tony Romm (@TonyRomm) February 11, 2020
[SOURCE: Carl Quintanilla/CNBC/NBC News]
