Grab the popcorn... The latest season of Big Tech vs. Congress dropped yesterday. Besides a few screaming matches and some technical difficulties, important questions were raised around anti-competitive activities of Big Tech companies. Highlights from the stars:
Grab the PR flashcards... All four CEOs took the stance that they do face real competition, and that everything they do is to improve products for their customers. Overall, the whole thing was often Congresspeople making their statements without actually listening to answers, and CEOs trying to waste as much time as possible by circumventing questions. Niiice.
Will anything actually come from these Congressional TV dramas?... The biggest thing would be a change in competition laws. Overall though, these hearings have rarely affected regulation. Buuut: a rare bipartisan unity clearly emerged around hostility to Big Tech (though the reasons varied). This hearing likely serves more as a slap on the hand than a game-changer.