Facebook CEO Mark Zuckerberg testifies remotely during a House Judiciary subcommittee hearing on antitrust on Capitol Hill on Wednesday, July 29, 2020, in Washington.
Lawmakers don’t like them, but what they bring to the competition with China may be too valuable to break up.
The heads of Facebook, Apple, Google and Amazon appeared before angry lawmakers Wednesday as Congress prepares to weigh new anti-monopoly regulations, including possibly breaking them up. Facebook’s Mark Zuckerberg turned to a familiar argument, saying that breaking up the big tech companies would hurt U.S. competitiveness against China in developing new technologies and America’s ability to curb Chinese influence globally.
So are U.S tech giants an asset to the U.S. in its competition with China or a hindrance?