Big Tech Divided and Conquered to Block US Innovation and Choice Online Act – Bloomberg
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Internet giants waged an epic campaign to squash the first major effort to regulate them in decades
Emily Birnbaum
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A passionate and bipartisan legislative effort to rein in the country’s largest technology companies collapsed this week, the victim of an epic lobbying campaign by Amazon, Apple, Google and Meta.
The internet titans spent hundreds of millions of dollars, sent their chief executives to Washington and deployed trade groups and sympathetic scholars to quash two antitrust bills co-sponsored by Senator Amy Klobuchar, a Minnesota Democrat, and Senator Chuck Grassley, an Iowa Republican. The companies treated the bills like an existential threat.
The years-long US legislative effort, which harnessed outrage over tech companies’ power and dominance, would have cracked down on the practices of Alphabet Inc.’s Google, Amazon.com Inc, Meta Platforms Inc. and Apple Inc. for the first time in the nearly three decades since the internet was unveiled to the public.