The plan undermines big tech by breaking them up. That’s bad because they are the backbone of the economy
ThirdWork “The Rise of Tech Startups: A Promising Era of Innovation” November 2023 https://www.thirdwork.xyz/blog/the-rise-of-tech-startups-a-promising-era-of-innovation-8aba6#:~:text=In%20conclusion%2C%20the%20impact%20of,efficiency%20and%20enhanced%20consumer%20experiences.
In 2021, the U.S. Gross Domestic Product (“GDP”) was estimated to be $22.99 trillion.17 As of 2021, Google, Facebook and Apple had a combined worth of at least $3.81 trillion, or almost 17% of the U.S. GDP.18 This astounding figure points to the unprecedented market dominance and monopoly power held by the hands of so few. In 2020, the Subcommittee on Antitrust, Commercial and Administrative Law of the Committee of the Judiciary (hereinafter the “Subcommittee”), published an investigation of competition in digital markets.19 The Subcommittee investigated four online platforms—Apple, Google, Amazon, and Facebook—that “play an important role in the U.S. economy and society as the underlying infrastructure for the exchange of communications, information, and goods and services.”20 The Subcommittee found substantial evidence of Big Tech monopolization that carries significant costs for the economy and society as a whole.21 Although the Subcommittee referenced Google’s use of trademark law to prohibit trademarked terms from being used in Google ads,22 there is no indication that trademark issues were the Subcommittee’s focus.