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
It is a cooling cloudy start to our friday. Temperatures running in the low to mid 50s. A live look at our Treasure Island camera, we can see the clouds in the sky. Mostly cloudy skies and some peeks of sunshine as we go through our day. Sistine San Francisco, 68 for a high and san jose and 67 for concord. A strong ridge of High Pressure builds in for the weekend and i will let you know how warm it will get in your neighborhood coming up. Lets check in with gianna with a look at traffic. Good morning, lets look at the roadways. There have been a number of changes to mass transit this week. I want you to stay updated on that. One of the latest changes happened this week, the vta light rail where service resume from 6 am to 6 pm. But again, a modification to the schedule and modifications to bus services as well for vta. They made several changes this week as well as focusing only on their 17 core route. And for bart, Weekday Service running trains for the Weekday Service. Just a heads u
42 currently. 52 in the city. Oakland at 51. A few high clouds. That wind is still offshore northnortheast. So with that in mind, temperatures again will be well above average except maybe a few locations, Half Moon Bay on the san mateo coast. Sal will tell us about traffic. Its affected in oakland by an injury crash northbound 880, but its also affecting south 880. Southbound 880 isnt normally slow leaving the Jack London Square area to the airport. The accident out of camera view is affecting northbound traffic, as well. This traffic is usually not this slow at this time. Alternates, 580. Bay bridge toll plaza is normal. Well talk about more coming up. With super tuesday votes still being counted, vermont senator Bernie Sanders won the california primary. But former Vice President joe biden is leading in the overall delegate count. Biden has 453 delegates. Sanders is a close second with 382. Senator Elizabeth Warren has 50. Michael bloomberg has 44 delegates. Candidates need 1,991 de