Tim Cook, Sundar Pichai, Mark Zuckerberg and Jeff Bezos, the names of the world’s biggest technology companies, will testify at the US Congress. These four CEOs will answer their company’s questions about market domination.
When we say technology and social media giants today, many people think of certain companies: Amazon, Apple, Google and Facebook. These four companies are in a monopoly or dominant position in their field of activity.
This is exactly why Jeff Bezos from Amazon, Tim Cook from Apple, Sundar Pichai from Google, and Mark Zuckerberg from Facebook will testify against the competition subcommittee.
These four names, sitting in the CEO seat of four large companies, will try to answer questions about the market domination of the companies they are in, in an investigation that has been ongoing since Wednesday last year. These four names are expected to attend the session on Wednesday through video conferencing.
The panel, which has been continuing since last year, where company CEOs testify about market domination and their impact on customers, answers questions from an investigation team created by Democrats and Republicans.
For the first time in the technology world, a global inspection is carried out. The aim of this investigation is to determine whether the existing competition laws and hundred years of anti-monopoly laws are sufficient or a new regulation is needed.
These four companies are in the top 10 in the list of the most valuable companies when looking at the total market values of their shares. According to the listing on May 23, 2020, Apple ranked third with $ 1 billion 286 million; Amazon is fourth with $ 1 billion 233 million; Google’s parent, Alphabet, is the fifth with $ 919 million; Facebook ranks sixth with $ 584 million.