“Companies aren’t bad just because they’re big,” Facebook CEO Mark Zuckerberg plans to report to Congress on Wednesday as the world’s most powerful technology companies face a historic study of their size and power.
According to a written testimony released Tuesday, Zuckerberg intends to assure Congress that Facebook has become a successful “American way of starting with nothing and providing products that people find valuable.”;
“We are competing with the companies involved in this meeting and many others who advertise and interact with people,” Zuckerberg plans to tell the Legislators’ Commission, which is investigating how the social media giant’s business practices and data collection have harmed smaller competitors. “We also compete around the world, including with companies that have access to markets we are not in.”
Zuckerberg will also defend Facebook acquisitions, saying the social media platform has helped companies like WhatsApp and Instagram grow. Facebook has acquired both platforms.
Amazon, Google and Apple executives will also testify at a long-awaited trial on Wednesday. This will happen after more than a year of investigation by the Chamber’s Antitrust Subcommittee, which collected 1.3 million documents and conducted hundreds of hours of interviews.
The technical industry inquiry has been the focus of attention since 2001, when the U.S. government pushed Microsoft to break it, accusing it of illegally maintaining a monopoly position in the personal computer market.
The technical giants are also being investigated by other government agencies and have received constant criticism from politicians in both houses. Federal and state agencies have launched investigations into Amazon, Apple, Facebook and Google. Donald Trump has accused Facebook and Twitter of censoring conservative views and launched a series of attacks on Amazon and its owner, Jeff Bezos. Bezos runs the Washington Post, which has been a stubborn critic of President Trump.
In preparing the testimony released before the court hearing, Bezos draws attention to his personal background and appeals to his mother’s efforts to raise him after he was 17 years old. He appeals to the myths surrounding the creation of Amazon, which began with a $ 250,000 loan from his parents. of which garage – Bezos calls himself the inventor of the garage.
Bezos will claim that small sellers have been successful in its third-country market, a practice overseen by lawmakers. And his testimony says the coronavirus pandemic has sparked an e-commerce business across the spectrum, not just Amazon.
In his remarks, Bezos expresses a desire for more guidance and regulation from the government. “I think Amazon should be checked,” Bezos wrote. “We should inspect all large institutions, whether they are companies, government agencies or non-profit organizations. It is our duty to ensure that we carry out such an inspection in flying colors. “
Tim Cook, Apple’s CEO, is determined to say that the company follows the rules and “does not have a dominant market share” in any market in which it does business. He will criticize the fact that the rules in the Apple App Store, the only way iPhone users can download apps, are gateways.
“With the launch of 500 apps, the App Store today hosts more than 1.7 million – only 60 of which are Apple software,” Cook’s testimony said. “Clearly, if Apple is a goalkeeper, what we’ve done is open the door wider. We want to shop for all possible apps instead of keeping them turned off. “
It will also address the cost Apple charges to developers when selling the App Store. Cook will argue that the vast majority of developers keep “100% of the money they make” and said it is “similar to or less than the commissions charged by most of our competitors.”
Sundar Pichai, Google’s CEO, also released his testimony on Tuesday alleging that Google dominated the search market. In his comments, he says that the search – in which Google dominates most of the metrics – was broader than just entering the query into Google. He said he was concerned about the relevance of Google’s support, as people are turning to Twitter, Pinterest or other sites.
“We know that Google’s continued success is not guaranteed,” the testimony said. “Google operates in a highly competitive and dynamic global market, where prices are free or falling and products are constantly being improved.”
The hearings, which will be conducted remotely to assess the risk of Covid-19, begin at 12 noon on Wednesday. EST.
Reuters contributed to this report.