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
Fundraising. With more on why he decided it was time to bow out. Reporter congressman Eric Swalwell when he announced his campaign on Stephen Colbert about three months ago. Today inside this union hall he announced he was ending it. Today ends our president ial campaign. It was perhaps the long shot at longshots for east bay congressmen to win the democratic president ial nomination. But supporters here in his district in dublin monday, he announced his run for the white house is over. If there was a viable chance i would not be standing here today. I from day one was running to win. I have no regrets. I am excited about what we have done. He was calling at 1 or less and was in danger of missing the cut off for the next president ial debate. It is a crowded field. You have people who have had high name recognition. Kamala harris tweeted, Eric Swalwell, you are great fun for the people of california, we are stronger nation because of your work to protect our children and our communitie
Impressed. The economy is humming, humming so much, that the dow is tumbling, down 200 points. Since recouped half that. Edward lawrence from the white house with details, some people thinking the Federal Reserve doesnt cut rates so soon. Edward . Reporter interesting job reports. 224,000 jobs created in the month of june. The Unemployment Rate ticked up 3. 7 . That is because of a good reason, more people, the amount of labor force grew. The total amount of labor force. More people are coming in off the sidelines to work there. 224,000 jobs created. Very Strong Economy. That means that 173,000 jobs over the past 12 months, each month, has been created by this economy. The president pleased. Were really unexpectedly good. Our country continues to do really well, really, really well. So were very happy about it. I think were going to, were going to be breaking records. If we had a fed that would lower Interest Rates we would be like a rocket ship. But were paying a lot of interest and i
In the green, dow up 185 points earlier. Seventh straight day of gains. Hanging in the balance up by 16 points and up by 8 and energy and communication services, best performing sectors at this hour happening right now in washington, the House Judiciary Committee holding a hearing on the dominance of big tech. Ylan mui with that story for us. Ylan reporter this is the first of the antitrust investigation. How far will they go i spoke earlier today with the chairman of the House Democratic caucus of new york and he told me that subpoenas are not off the table. To the extent that we dont receive full and comprehensive cooperation from the big tech companies, then the subpoenas are one tool at our disposal that we may be compelled to use. Reporter but a word of caution from the ranking republican on the committee, congressman doug collins will say in the hearing today that big is not necessarily bad and proposals to break up big tech risk throwing the baby out with the bath water so the h
Now at 5 30, an environmental break through, a Pleasant Company is looking to the bay to cool down its storage machines. For the first step of their plan, they are already building a floating server on the island. Now they have their eyes on alameda to help set it in motion. The idea is to cut Greenhouse Gases but as k kpix5s john ramos reports, theyre raising alarm bells. Reporter it seems every part of our lives is being affected by the internet these days, but have you ever wondered exactly where it is . Its here in huge industrial data Storage Facilities like this all around the world. Connect them together and you have the cloud. But the machines run hot, so most industrial data farms use eveep rahtive air coolers using a lot of water. They consume massive amounts of energy and water and weve got a design that gets rid of that. On the island in vallejo, theyre building a data center mounted on a barge that will continually suck cold water from below and then discharge it after run