Bill against Tech company: Meeting with US lawmakers increasing the CEO of the tech company, lobbying against the bill against anti-competitive conduct
Democrat mp Amy Klobuchar and others recently said they had secured the necessary votes in the Senate for a new bill to keep the market competitive. If this bill is passed, then google will not be able to give a ranking of its related businesses especially restaurants or YouTube links above other websites in the US.
The government and regulatory agencies in india are cracking down on the anti-competitive practices of big tech companies through new IT rules, amendments, and lawsuits, while laws are being brought in America too. To avoid them, google, Amazon, apple, etc. have started lobbying with US senators. Their CEOs are spending crores on increasing mail from senators.
Democrat mp Amy Klobuchar and others recently said they had secured the necessary votes in the Senate for a new bill to keep the market competitive. If this bill is passed, then google will not be able to give a ranking of its related businesses especially restaurants or YouTube links above other websites in the US.
Amazon will not be able to sell products made under its brand on its e-commerce platform. Will only sell third-party products. apple will also have to change the rules imposed on app developers. Tech companies have been asked to improve their business model. With this, they will not be able to forcibly sell other services to the consumers. Due to this, the CEOs of the companies have lost their sleep.
lobbying like this Google: CEO Sundar Pichai will meet several Republican and Democrat lawmakers in Washington next week. Expenditure: Rs 27.28 crore in the last three months Apple: CEO Tim Cook appeared in the Senate last week. The company did not tell the reason for this, nor did it give any official statement. Expenditure: Rs 19.49 crore in the first quarter of 2022, a quarterly record. Amazon: CEO Andy Jesse spoke to several members of congress and urged them to oppose the bill.
Expenditure: 41.3 crores so far
Meta: Mark Zuckerberg's emphasis is on increasing the lobbying budget more than the meetings. They are also increasing advertisements regarding the bill.
Expenditure: highest 42.10 crores
According to tech companies, this bill will prevent many features from being available to consumers. This will affect the services of the company. Instead of making people's lives better, it will create trouble.
Organizations working to raise awareness of the bill want a vote in the next few weeks. It is necessary to break the monopoly that companies have established in the last decade by eliminating everything from small traders to open competition.
