US: House Antitrust Panel to hold hearing on big tech market power

The House antitrust panel investigating the technology industry will hear complaints next week about the market effect that big technology giants have on smaller companies.

The House Judiciary Antitrust Subcommittee will hear testimony from Sonos Inc.Chief Executive Officer Patrick Spence and David Barnett, the founder and CEO of PopSockets, among others, reported Bloomberg.

The hearing, which will take place in Boulder, Colorado, will likely amplify concerns from smaller tech firms that major platforms such as Alphabet Inc.’s Google and Amazon.com Inc copy their innovations and then use marketplace dominance to squash competition.

It’s still early days, but the committee is planning a “series of hearings” and intends to request info while conducting the investigation. Not surprisingly, officials were open to the prospect of creating new laws if necessary.

The House Antitrust Subcommittee, which is broadly investigating the market dominance of tech giants, will hear from Sonos next week.

Full Content: Bloomberg

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