Digital economyresearch report

An investigation report on the competition in the U.S. Internet market in 2020 From Judicial Council of the United States

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The following is the An investigation report on the competition in the U.S. Internet market in 2020 From Judicial Council of the United States recommended by recordtrend.com. And this article belongs to the classification: Digital economy, research report.

The U.S. House antitrust Committee has completed a 15 month investigation into potential violations by Amazon, apple, Facebook and Google, and concluded that all four technology giants have monopolistic behavior.

In the past decade, the digital economy has become highly centralized and prone to monopoly. Several markets surveyed by the commission are dominated by only one or two companies, such as social networking, general online search and online advertising. Amazon, apple, Facebook and Google have taken control of key distribution channels and are starting to play a gatekeeper role. In just a decade, 30% of the world’s economy may be in the hands of these companies, while few others.

The dominance of online platforms has brought huge costs. It reduces consumer choice, erodes innovation and entrepreneurship in the U.S. economy, weakens the vitality of free and diverse news media, and destroys American privacy. Most Americans have these concerns. On September 24, 2020, the judicial committee issued a “survey on competition in the Internet market”. The results are as follows

85% of Americans are very or a little worried about the amount of data about them stored on the online platform; 81% of Americans are worried that the platform is collecting and holding the data to build a more comprehensive consumer profile.

58% of the respondents did not believe that they would get objective and fair search results when shopping or searching information on the online platform.

79% of respondents said mergers and acquisitions of large technology companies undermined competition and consumer choice.

60% of respondents support more government regulation of online platforms and mandatory implementation of interoperability functions, making it easier for users to switch from one platform to another without losing important data or connections.

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