House Panel Releases Report Likening Tech Giants to Railroad Tycoons

House Panel Releases Report Likening Tech Giants to Railroad Tycoons

(NewsReady.com) – For the past year, the House Judiciary Committee has been carrying out an investigation into the ways Apple, Amazon, Facebook, and Google have conducted business. Specifically, the way companies are crushing competitors. They pulled no punches in their report.

On October 6, the committee released a 450-page antitrust report stating the Big Tech firms are now like monopolies the nation hasn’t seen since the “era of oil barons and railroad tycoons.” According to lawmakers, they “run the marketplace while also competing in it.” That gives the companies the ability to set the rules for others, and follow an entirely different set of rules themselves.

The House report said there’s a “pressing need for legislative action and reform.” President Donald Trump has called on lawmakers to enact changes, too, especially in relation to the companies’ liability protections as a result of allegedly systemic censorship of Conservatives.

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