Market Update

Washington Commentary - Online platforms in the spotlight: What to look for

Online platforms

For years, large online platforms such as Google, Facebook, Apple, and Amazon were favorably viewed as disruptors and innovators by policymakers on both sides of the political aisle. However, in the last Congress there was a sea change in terms of how big tech is regarded on Capitol Hill. These companies faced criticism from both Republicans and Democrats on issues such as illegal content and political disinformation, which has led to calls to reform Section 230 of the Communications Decency Act that gives online platforms legal immunity from liability for third-party content on their platforms.

There has also been a steady drumbeat of concerns that these large online platforms have too much power and are stifling competition in the online marketplace. Democrats on Capitol Hill who oversee antitrust policy, some Republicans, and antitrust regulators are squarely focused on these tech giants engaging in perceived anti-competitive behavior, such as buying out upstart rivals before they can become a competitive threat or refusing to deal with rivals.

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  • All data is as at 24 Juni 2021 unless otherwise stated.

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