Dear MEL Topic Readers,
Amazon is everywhere. Here's how the US could break it up
Some financial institutions or large employers are too big to fail, and they could be rescued by the government when they are in trouble. Banks and insurance companies during the financial crisis, automotive companies during a recession, and airlines during the pandemic are examples of private businesses that have been rescued by the government. On the other hand, when private enterprises become too large, influential, and dominant to the market, the government tries to intervene trying to keep the market mechanism and prohibit unfair trade practices. Even Chinese regulators recently cracked down on a number of tech giants for their anticompetitive practices. Now, US regulators are targeting tech giants, especially Amazon, whose businesses include cloud division Amazon Web Services; Whole Foods; advertising; gaming; entertainment and streaming; logistics, warehousing and delivery; smart devices; payment services and, of course, e-commerce. Servicing over 300 million active customer accounts and employing over 1.3 million workers, Amazon is too large and influential to the economy. Also, Amazon is used by small sellers that depend on its web platform, warehousing, and even delivery services. How are regulators going to attack Amazon’s dominant power?
Enjoy reading the article and learn about the dominant power of the tech, infrastructure, and service giant.
https://edition.cnn.com/2021/07/28/tech/amazon-antitrust-house-bills-issues/index.html
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