Some of the biggest companies in tech right now, including Microsoft, Facebook and even Alphabet are now facing scrutiny. A lot of this is coming down to the fact that they are being stifled by competition. They are buying up a lot of smaller rivals and this is all impacting their companies overall. It should be noted that the Federal Trade Commission have asked the firm to hand over a lot of information regarding a decade of deals. They have warned that this could lead to even more action being taken.
The Tech Giants
Of course, it should be noted that none of the tech giants who have been affected are part of the casino industry. This means that you should be able to play blackjack online without any problems. The Federal Trade Commission have asked various firms to hand over the information that they have and this goes back way over a decade. They have warned that it could lead to a lot of action being taken. Of course, only time is going to tell whether or not this is going to be an issue but right now things are not looking good for these companies.
FTC Chairman Joseph Simons
FTC chair, Joseph Simons has stated that all of the options are on the table right now. If during the study, they say that there are transactions that were somewhat problematic then it’s very conceivable that they could then go back and initiate the right enforcement actions. This will help them to deal with all of the transactions. Actions could easily force companies to unwind or even break off deals. Mr Simons has stated that the FTC’s probe was actually completely separate from the investigation and it has been undertaken by the Justice Department.
Critics of Tech Giants
Critics of the Tech Giants have stated that the firms have consolidated power over the last 10 years. They have been buying up rivals. Examples of the deals include when Facebook purchased WhatsApp or even when Apple purchased Beats. Amazon also took over Diapers.com and this is also being looked at. They have called on a lot of US regulators to try and take more action. This is pointing to fines and other various action. The orders that the FTC have announced, detail the concerns regarding the deals that have been completed between the 1st of Jan 2010 and the 31st of December 2019. This focuses on some of the smaller transactions that took place which might not have needed to report to the government. Firms, right now, have to report any major deal that is worth over $90m to the government. Officials have not yet specified a timeline, but they have stated that they would like to move quickly. The agency have faced calls from some of the members of congress and they have tried to move aggressively against the firms mentioned above.
The companies are yet to comment however.