https://sputnikglobe.com/20230919/majority-of-americans-say-tech-giants-wield-too-much-power-want-more-competition-1113506757.html
Majority of Americans Say Tech Giants Wield ‘Too Much Power’, Want More Competition
Majority of Americans Say Tech Giants Wield ‘Too Much Power’, Want More Competition
Sputnik International
The big five American tech giants, which include Google owner Alphabet, Amazon, Apple, Meta* and Microsoft have grown to gargantuan proportions over the last two decades, coming to account for as much as a quarter of the S&P 500’s total valuation and often establishing virtual monopolies in their respective fields.
2023-09-19T19:01+0000
2023-09-19T19:01+0000
2023-09-19T19:02+0000
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A majority of Americans believe Big Tech has “too much power in the market,” and want alternatives to challenge companies’ often near-monopolistic grip, a new poll has found.The survey, conducted for the American Economic liberties Project, a Washington-based non-profit, showed that 60 percent of Americans agree with the sentiment that the large tech companies’ immense market power “puts competitors at a disadvantage and hurts both smaller businesses and consumers.”By contrast, 30 percent agree with the statement that Big Tech showcases “the best of American innovation” and is therefore “deserving of the profits and market power they have achieved.”Concerns appeared common across party lines, with 53 percent of Republicans, 65 percent of Democrats and 63 percent of independents agreeing that Big Tech has too much power.60 percent expressed concerns about Google’s “handling of privacy and data.”46 percent of respondents said the government should do more to regulate tech companies, while 14 percent said there should be less regulation, and 30 percent believe that the amount of regulation should be left as is.The poll, conducted September 13-14 and querying 1,227 likely voters by Data for Progress, has a stated margin of error of +-3 percent.The Justice Department kicked off a major anti-trust trial against Google last week, accusing the search engine giant of operating an illegal monopoly in the search market and harming innovation. Google’s lawyers argue that their products are simply superior, and that this, not illegal market practices, accounts for their market share.Sealed testimony in the case began on Monday, with the DOJ protesting the move to remove the public from the trial.* Meta’s Facebook and Instagram are banned in Russia for extremism.
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big tech, poll, tech giants, survey, americans, united states, trial, opinion, views, monopoly, regulation
Majority of Americans Say Tech Giants Wield ‘Too Much Power’, Want More Competition
19:01 GMT 19.09.2023 (Updated: 19:02 GMT 19.09.2023) The big five American tech giants, which include Google owner Alphabet, Amazon, Apple, Meta* and Microsoft have grown to gargantuan proportions over the last two decades, coming to account for as much as a quarter of the S&P 500’s total valuation and often establishing virtual monopolies in their respective fields.
A majority of Americans believe Big Tech has “too much power in the market,” and want alternatives to challenge companies’ often near-monopolistic grip, a new poll has found.
The survey, conducted for the American Economic liberties Project, a Washington-based non-profit, showed that 60 percent of Americans agree with the sentiment that the large tech companies’ immense market power “puts competitors at a disadvantage and hurts both smaller businesses and consumers.”
By contrast, 30 percent agree with the statement that Big Tech showcases “the best of American innovation” and is therefore “deserving of the profits and market power they have achieved.”
Concerns appeared common across party lines, with 53 percent of Republicans, 65 percent of Democrats and 63 percent of independents agreeing that Big Tech has too much power.
60 percent expressed concerns about Google’s “handling of privacy and data.”
46 percent of respondents said the government should do more to regulate tech companies, while 14 percent said there should be less regulation, and 30 percent believe that the amount of regulation should be left as is.
25 August 2023, 18:46 GMT
The poll, conducted September 13-14 and querying 1,227 likely voters by Data for Progress, has a stated margin of error of +-3 percent.
The Justice Department kicked off a
major anti-trust trial against Google last week, accusing the search engine giant of operating an illegal monopoly in the search market and harming innovation. Google’s lawyers argue that their products are simply superior, and that this, not illegal market practices, accounts for their market share.
Sealed testimony in the case
began on Monday, with the DOJ protesting the move to remove the public from the trial.
* Meta’s Facebook and Instagram are banned in Russia for extremism.
