John the program is entitled the origins of the militaryindustrial complex and features dr. Daniel ellis, who is this years staff fellow, a prestigious position. He has been using items to investigate the origins of the militaryindustrial complex through wartime and immediate postwar, meaning postworld war ii, evolution between Scientific Research, industry and National Defense. Dan has advised congress on defense issues. I was a colleague of his at crs for several years. Dan did things in connection with things i knew, a whole range of things, defense production act, appropriations, military construction, and he does many more things at crs. He holds a phd in Political Science from George Washington university. And at crs, as many of you know, he is the author of many reports on defense, trade and security. , this project is the latest example of the work undertaken by staff fellows showcasing their knowledge and passion of their areas of expertise. This is funded by a gift left by th
Industry. They took questions about the use of thirdparty seller data and allegations of anticonservative bias. The subcommittee will come to order. Without objection, the chair is authorized to declare recess at any time. Welcome to todays hearing on marketing power. Amazon, apple, facebook, and google. I would like to remind members we have established a distribution list dedicated to circulating specific motions or other written materials members might want as part of our hearing today. If you would like to submit materials, submit them to the email address distributed to your offices. We will circulate materials as quickly as we can. Thatld also remind members face coverings are required for all meetings in an enclosed space such as Committee Hearings. I expect all members on both sides of the aisle to wear a mask except when you are speaking. I recognize myself for an opening bateman Opening Statement. This committee launched an investigation into Digital Markets to document compe
Moment or someone will be caught offguard. There will be several rounds of questioning after the Opening Statements. We have seen the testimony of all four of the ceos. There is a similar theme. These ceos are emphasizing that they are facing competition all all on all fronts. Tech is the most Competitive Industry in the world. In every facet of every business they run, they talk about how they face competition. Mark zuckerberg focuses on china saying that if there is too much regulation, that will give Chinese Companies an advantage. The ceo of alphabet talking nott how google does necessitate competition. Tim cook talking about the app store, the opportunity that it has given companies around the world and the fact that the vast majority of apps in the app store are free. Jeff bezos his testimony is different. He talks about a personal story. How his parents invested in amazon in the day. A truerican has american story. This is a first time we will see him testify before congress. He
Lot going on as stuart did tell you that whole hearing where the tech giants will gather virtually at least. It is parked back maybe half an hour. I was doing back of the napkin guesstimating on their wealth. That is on, i think is worth about 180 billion. Our Charlie Brady follows this thing would know to the penny. I think it is roughly about that. Mark zuckerberg facebook, close to 90 billion, close to 2 billion, tim cook of apple, thanks to appreciation of that stock, he is at around 2 billion. So lets say you were to add all of this. These are numbers. I added it all up. That is 272 billion collectively. These are among the richest men on the planet, particularly when it comes to bezos and zuckerberg. But putting companies combined market cap at north of 5 trillion. If you were to add microsoft to that bunch, microsoft will not be part of this hearing. They represent the five most valuable companies in the world. Isnt that amazing . Youre welcome america. We have this delay. We ha
For. The. Public anger reaches boiling point in malta the European Union small this nation is in the grip of a deep political malays rocked by high level resignations and allegations of a cover up linked to a journalist for sassa nation. And a famous face will be taking over as coach a struggling one has to decide turns up youre going to klinsmann that was part of team germany that won the world cup back in 1980 he coached the german and u. S. National teams is now under contract to try to actually get out of this east. Thank you so much for your Company Everyone a new team is set to take the race of power in the e. U. European lawmakers have. Proved a team of new commissioners taking over the executive branch of the European Union or dissolve on their Alliance Role now formally take charge of the European Commission this sunday should be defrosted woman in that news top job earlier wagner lyon outlined her plans for the presidency in strasburg saying she would focus on the quality and