Good morning, everybody. I think w had senator blumenthal remotely, ishat correct . Mr. Chairman. Is it okay if we move forwar absolutely. Thanks very much . Ill make a brief Opening Statement ts is about censorship, suppression and the 2020 election. A deep dive when it comes t twitter and facebook about the platforms and decisions they make, can we do better . Do we need to do better . The first thing i want to talk about here is health risk associated with social media. The 2018 Research Center survey of nearly 7150, 13 to 17 yearoldsnt 45 online almost constantly. 97 use socia media platforms such as youtube,st facebook or snapchat or instagram. Why are we having thisearing . Shes o companies offer, people like the politics ander u them. They probably more successful in their wildest dream they are having to make decisions that offend people on the left a the right. What we are trying t do is look at section 230 see if it nee to be modified or changed because section 230 basically
Facebook, twitter set to report quarterly results. More importantly get a little bit of a sense for the out look of what is a uncertain future. Well hear from some of the biggest names in american business. So lets get to it. Fox Business Team coverage. Lauren simonetti and susan li are standing by. Edward lawrence on the recordsetting Economic Growth i mentioned. Edward in washington. First we have the panel, lance ulanoff, geir i hry b. Smith gary b. Smith, scott, an erin gibbs joins us from gibbs wealth management. It will be a fun hour to go through all of this. Amazon is the big one. Amazons numbers are just coming out. In the Third Quarter, amazon already reported 96. 1 billion in sales in a quarter. That is comfortably above the analyst estimates. They were supposed to be up 32 1 2 it were around they blew through that, looks like. With a net profit of 6 billion. On the eps side, well get back to it in a moment. Comparable to analyst estimates. Then to lauren, probably, scott ma
Invent inventor, somebody that made a blood testing machine or something without checking it out first. When i first invited blake schull in 2016, i had doubts about his ability to build a super sonic airliner. After all, his previous job was at groupon and he thought he could build a 21st century concord. I talked to those in the know and he said he could do it because he assembled a dream team. So at the end of a 2016 segment im about to show you, i said to blake, come back when you have an actual airplane. Blake schull come back when you have an airplane. I believe in you. Goodness knows, elon musk did it and so many others. Blake is black. Im guessing the fact youre here almost exactly four years later, you built an airplane. We did. The xb 1. In 2016 we unveiled it in mockup form and today its a real airplane. It hasnt flown yet, though, right . You will fly it later . Well fly it next year. The rollout we had marks the hand off from building the aircraft to testing the aircraft.
Florida. I recognize the gentleman from north dakota for five minutes. Bezos, my colleagues brought up they were discussing thirdparty sellers this policy specifically noted possible loopholes that allow amazon to review nonpublic and aggregate data to inform private rams even in instances where there are only a few thirdparty sellers. Where exactly does amazon draw the line . Data would bee more than one seller . The person seeing the report would have no way of knowing how rs are inside that group or what the breakdown would be between those sellers. That is different from a list or product ranking which we do make public. Does amazon allow the use of aggregate data to inform private label amazon brands when there only a few sellers for a product . Does amazon look at i could dictate up when there are only two sellers of a product . Yes, sir. Isand my correct amazon conducting an internal investigation on the use of thirdparty data . Are basically trying to understand some of the ane
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