Written materials. You are the ema offices that required for all meetings. I expect all members to wear a mask expect when speaking. I recognize myself for an opening statement. More than a year ago, this subcommittee launched an investigation into Digital Markets. The twoives b have been to document problems and since then, weve received millions as well as conducting hundreds of hours of interviews. There were experts here, the subcommittees Ranking Member. We work closely with all members who have taken this work seriously and study the issues. This is the most bipartisan effort ive been involved with. The purpose of todays hearing is to examine the dominance of amaz amazon, apple, facebook and google. Amazon runs the Largest Online marketplace in america, c capturing 70 of all online marketplace sales. It operates across a vast array of businesses from cloud compute i ing. Apple is a provider of smart phones with more than 100 million in the United States alone. Services include fi
On twitter or facebook. Lets start with yesterdays hearing. Chairman of the house judiciary antitrust subcommittee kicking off this hearing in the opening remarks saying that he believes these Companies Need to be reined in. The practices have armful economic effects. They discourage entrepreneurship, destroy jobs, and degraded quality. Simply put, they have too much power. This power staves off new forms of competition, creativity, and innovation. While these firms produce individual products, the dominance is killing Small Businesses, manufacturing, and dynamism that our engines of the american economy. Several firms harvest and abuse peoples data to sell ads from everything to new books and dangerous miracle cures. They cant run away fast enough. There is no escape from the surveillance because there is no alternative. People are stuck with bad options. Open markets are predicated on the idea that if a company harms people, consumers, workers, and Business Partners will choose anoth
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
Dramatically access to users on internet virtually any gist that wants to be found on the web must pay google a tax. With that i recognize the Ranking Member of the subcommittee, mr. Sensenbrenner. For first round of questions. Thank you, mr. Chairman. Ive been in congress 42 years. That is coming to an end at the end of this year. Im breathing a sigh of relief. During that period of time, during decade of 90s and 00s, i was involved as chairman of the Science Committee and chairman of this committee and trying to make the net universal, open it up to everybody and one of the, one of the theses that we used that the net should end up becoming basically the debate on issues, not only in our country but throughout the world and in exchange for that this committee and the Congress Gave Internet Service providers immunity so if somebody said something defamatory in what they posted. Isps could not be a part of a lawsuit for defamation. After hearing mr. Jordan, you know, a long line of cen
Actually ending the day in the green, but are we out of the woods yet . Welcome, everybody. This is bulls bears. Thank you for joining us. Im david asman. Joining me on the panel today is robert wolf, susan lee, scott martin, and my man steve forbes is with us as well. Fears of a global recession driving investors to the safety of gold, which was way up today, soaring to its highest level since september 2013. Bonds with a ten year treasury yield hitting lowest level since october 2016. At least one bond analyst says it could actually go negative after all is said and done. But is this all just an overreaction, or are we really on the brink of some kind of financial disaster . Were not on the brink, david, but the markets are worried that this trade war were having with china may not be resolved the way they thought it would a few months ago. What would be the implications of that . Creates more uncertainty. Whats going to happen with the tariffs with autos and auto parts from europe .