Employees and if you break a company like that up, if you can manage it do it, theres going to be unattended consequences. Tonight at 8 30 p. M. Eastern on cspan2. Next on cspan3, a house judiciary subcommittee on whether Big Tech Companies like google, apple, facebook and amazon engage in anticompetitive practices that hurt smaller online companies. Rhode island congressman David Cicilline chaired the hearing. Good afternoon. The subcommittee will come to order. Without objection the chair is authorized to declare recesses of the committee at any time. We welcome everyone to the second of our series of hearings investigating competition in the digital markets. This one on innovation and entrepreneurship. I now recognize myself for an opening statement. 30 years ago the First Software for the worldwide web was released into the Public Domain to create a Global Communications network. Within a few years, search and browsing services were built onto the software to give people tools to c
Off. Export the nations passed on American History tv every weekend on cspan3. Next, a Congressional Panel visit Online Platforms and their visit on entrepreneurship in the us. We hear from google, apple, facebook and amazon officials to talk about ecommerce. This portion of the house judiciary subcommittee hearing is one hour and 50 minutes. Everybody will come to order, the chair is authorized to declare recess at any time. We welcome everyone to the second of our series of hearings investigating competition, this one on innovation, i recognize myself for an opening statement. 30 years ago, the first of the World Wide Web was released into Public Domain to create a Global Communications network. Within a few Years Services were built on the software to give people tools to communicate, share and export information from decentralized platform designed to be open and nondiscriminatory. Internet pioneer and codesigner of the internet early architecture testified in 2006 that the overarc
Good afternoon. The subcommittee will come to order. Without objection the chair is authorized to declare recesses of the committee at any time. We welcome everyone to the second of our series of hearings investigating competition in the Digital Markets. This one on innovation and entrepreneurship. I now recognize myself for an opening statement. 30 years ago the First Software for the worldwide member was released into the Public Domain to create a Global Communications network. Within a few years, search and browsing services were built onto this software to give people tools to communicate, share, and explore information through decentralized platform that was designed to be open and nondiscriminatory. An internet pioneer and codesigner of the internets early architecture testified in 2006 on behalf of google that the overarches principle of the open internet was no central gatekeeper should exert control over the internet. As he noted this open and competitive environment meant ent
Is at the house antitrust hearing. Hillary, can you tell us, what do you know . Reporter this is an interesting hearing. These companies are trying to convince lawmakers that their competitors are competitive with them. So they are hyping up their competition. We heard from google executives who say they face intense competition for companies over their search functions. Facebook says they have competition from snapchat, skype, and ticktock over their idea video sharing. But not every lawmaker on the panel bought the argument that these companies are in a position to defend their market share and fight for user competition. I think you are in a unique chair in a unique position among those seated at the table. Each one of you occupy a unique and dominant position. But facebook is stands alone in terms of social media. Any other social media platform that can compete with facebook . There might not an identical competitor to facebook but there is significant competition in advertising.
Back over to you thats going to be a topic of more importance as we get through the back half of the year ylan, thank you. A move to crypto now, especially facebooks libra. The president took to twitter to say hes not a fan of bitcoin or other cryptocurrencies adding, quote, facebooks will have little standing or credibility. Libra a major topic on capitol hill during the fed chairs testimony. Take a listen. We agree that libra raises a lot of serious concerns. And those would include around privacy, money laundering, consumer protection, financial stability, and those are going to need to be thoroughly and publicly assessed and evaluated before this proceeds now weve got mark cuban sitting down with deirdre last night, saying that facebook is out over its skis. Im not a big fan of what theyre doing there. I think its a big mistake not so much because of what will happen here in the United States, but what will happen globally theres going to be some despot in some african country that