Business
The titans of tech had their day of reckoning. Now what? – Sydney Morning Herald
The chief executives of Amazon, Facebook, Apple and Google were grilled about their anti-competitive activities by a US congressional committee.
Unsurprisingly, the tech CEOs argued that they arent really that dominant.
Apple says it holds only 15 per cent of the global smartphone market, Amazon claims a share of only 12 per cent of US retail sales, Facebook cited Chinese social media app TikTok to argue it faces strong competition and Google says it has less than 30 per cent of the US digital advertising market.
Members of the House anti-trust committee, however, werent convinced, accusing the companies of abusing their vast hoards of…
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