TOPLINE
Congresss grilling of top Silicon Valley CEOs Wednesday on antitrust issues reflects the American publics broad distrust of big tech companies increasing powerbut polling released throughout 2020 shows that while Americans may be wary of big tech, theyre more conflicted when it comes to what action the government should take in response.
Facebook CEO Mark Zuckerberg testifies before the House Financial Services Committee on October 23, ... [+] 2019. (Photo by Aurora Samperio/NurPhoto via Getty Images)
72% of U.S. adults believe big tech companies have too much power and influence in politics, per a Pew Research survey conducted in June, while an Accountable Tech/GQR Research poll in July found 85% of respondents believe they have too much power in general.
A Morning Consult poll released in January found that 65% believe tech companies benefits to users arent worth the industrys becoming more powerful at the expense of smaller companiesbut a majority of those respondents still enjoy big tech products, using major social media and search tools and predominantly shopping online.
Americans who distrust big tech dont necessarily support government action: 69.8% of respondents to a July poll by the Center for Growth and Opportunity/YouGov said they somewhat or completely agree that tech companies are too big, but only 44.4% agree the government should break them up.
A Knight Foundation/Gallup poll conducted in December and released in March found 50% support government intervention to break up tech companies, while 49% oppose, and the Pew survey found only 47% support more government tech regulationdown from 51% in 2018.
88% of Knight/Gallup respondents said they do not trust social media platforms to make the right decisions about what users can post, but 55% still said the companies should be making those decisions anyway, rather than the government.
A July Morning Consult poll found only 46% of Americans trust Congress to best regulate big tech companies, as compared with 57% who trust the courts, 53% trusting federal agencies and 34% who trust the president.
A national survey by The Verge released in March found that 51% believe Google and YouTube should be broken up into two different companiesbut 66% dont have a problem with Facebook owning Instagram and WhatsApp.
CEOs of worlds most powerful tech companies on Wednesday defended themselves against lawmaker accusations that their companies have too much power and stifle smaller businesses, claiming that their practices are instead part of a thriving competitive economy and that their size is essential to their value. Just like the world needs small companies, it also needs large ones, Amazon CEO Jeff Bezos argued in his opening statement to the House antitrust subcommittee, while Facebook CEO Mark Zuckerberg said Facebooks large size is an asset to its work to keep people safe on our platform, and to make sure were investing to fix our issues and get ahead of new risks.
Zuckerberg and Bezos, along with Alphabet CEO Sundar Pichai and Apple CEO Tim Cook, appeared before the House antitrust subcommittee Wednesday, amid widespread scrutiny into the tech giants alleged anticompetitive practices. The companies are also facing antitrust investigations from the Department of Justice, Federal Trade Commission, state attorneys general and the European Union. The antitrust struggles come amid broader distrust of big tech companies and their role in the coronavirus pandemic, racial justice protests and impending November election, as companies have struggled to respond to growing misinformation and address hate speech and extremist groups on their platforms.
Though Americans are increasingly suspicious of big tech companies, polls show that the coronavirus pandemic may be improving their standing in the eyes of Americans. A Harris poll released in April found that 38% of respondents view of the tech industry had become more positive over the course of the pandemic, while an April report by the National Research Group found a full 88% of Americans say the pandemic has given them a greater appreciation for technologys positive impact.
Mark Zuckerberg Is Even Less Popular Than Donald Trump, Poll Finds (Forbes)
The Verge Tech Survey 2020 (The Verge)
Techlash? America's Growing Concern With Major Technology Companies (Knight Foundation)
Most People Dont Like Giving Big Tech More Power, but They Rely on Its Services (Morning Consult)
Most Americans say social media companies have too much power, influence in politics (Pew Research Center)
See the rest here:
As Tech Giants Face Congress, Heres What Americans Actually Think Of Big Tech - Forbes
- Stocks Close Higher With Amazon and Netflix Making Big Gains - Barron's [Last Updated On: July 8th, 2020] [Originally Added On: July 8th, 2020]
- Samsung needs a splashy product for its splashy product launch - The Verge [Last Updated On: July 8th, 2020] [Originally Added On: July 8th, 2020]
- Big Tech's Washington hearing will be a spectacle for the ages - Financial Post [Last Updated On: July 8th, 2020] [Originally Added On: July 8th, 2020]
- Dow gains more than 400 points after big tech rally, Amazon and Netflix hit records - CNBC [Last Updated On: July 8th, 2020] [Originally Added On: July 8th, 2020]
- Here Come the 4 Horsemen of the Techopolypse - The New York Times [Last Updated On: July 8th, 2020] [Originally Added On: July 8th, 2020]
- New records show 5,000+ contracts between big tech and the Pentagon - Business Insider - Business Insider [Last Updated On: July 8th, 2020] [Originally Added On: July 8th, 2020]
- Stock market rising on the indispensable companies - Minneapolis Star Tribune [Last Updated On: July 12th, 2020] [Originally Added On: July 12th, 2020]
- Tech Stocks Have Been the Markets Stars. Are They Overbought? - Barron's [Last Updated On: July 12th, 2020] [Originally Added On: July 12th, 2020]
- Tech Stocks Are Getting Scary. Why Theres No Way to Escape Them. - Barron's [Last Updated On: July 12th, 2020] [Originally Added On: July 12th, 2020]
- Big Tech companies have got universities in their sights - Telegraph.co.uk [Last Updated On: July 12th, 2020] [Originally Added On: July 12th, 2020]
- The National Research Cloud: Big Tech And Academic Research - Seeking Alpha [Last Updated On: July 12th, 2020] [Originally Added On: July 12th, 2020]
- Nasdaq At Record as Investors Bet on Big Tech to Weather Virus Storm; Dow Falls - Yahoo Finance [Last Updated On: July 12th, 2020] [Originally Added On: July 12th, 2020]
- Big Tech saved the day. We still dont trust them. - BetaBoston [Last Updated On: July 12th, 2020] [Originally Added On: July 12th, 2020]
- Big tech, even bigger heart, provides shields to Hatzalah - The Riverdale Press [Last Updated On: July 12th, 2020] [Originally Added On: July 12th, 2020]
- Cramer's earnings watch: 'If the banks get hammered, things could get ugly' - CNBC [Last Updated On: July 13th, 2020] [Originally Added On: July 13th, 2020]
- Big Tech joins fight against Trump's restrictions on international students - The Logic [Last Updated On: July 13th, 2020] [Originally Added On: July 13th, 2020]
- Pittsburgh Big tech companies are flocking to Pittsburgh. The foundation was laid over decades - Technical.ly Pittsburgh - Technical.ly [Last Updated On: July 13th, 2020] [Originally Added On: July 13th, 2020]
- Ask the Rational Investor: Is big tech too large? - Massillon Independent [Last Updated On: July 13th, 2020] [Originally Added On: July 13th, 2020]
- Big Tech went from growth stocks to Wall Street's Treasury bond substitute during the coronavirus - CNBC [Last Updated On: July 13th, 2020] [Originally Added On: July 13th, 2020]
- Thousands of contracts highlight quiet ties between Big Tech and U.S. military - NBC News [Last Updated On: July 13th, 2020] [Originally Added On: July 13th, 2020]
- The Information's Takeover Target List - The Information [Last Updated On: July 18th, 2020] [Originally Added On: July 18th, 2020]
- The Tension Between Competition and Tech Are Gaining Global Attention - JD Supra [Last Updated On: July 18th, 2020] [Originally Added On: July 18th, 2020]
- Cloudflare DNS goes down, taking a large piece of the internet with it - TechCrunch [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- As the Revolving Door Swings - The American Prospect [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- Big Tech is Poised to Pounce on Banking - Global Banking And Finance Review [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- The Biggest Problem With Investing in Teladoc - The Motley Fool [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- How Palantir and Peter Thiel might lead the biggest tech IPO of the year - Vox.com [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- Here's what happened to the stock market on Monday - CNBC [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- 'Big Tech' Pullback Explains Why Bitcoin Rally Has Paused in Q3 | NewsBTC - newsBTC [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- Advertiser alliance, media companies, and Big Tech to collude and create a definition of hate speech - Reclaim The Net [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- Congress has the legal power to investigate Silicon Valley. Let's make it count - The Guardian [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- The Problem with Big Ideas (and Some Ramblings on Virtual Desktops & Tech's Blurred Lines) - www.waterstechnology.com [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- Here are all the battlefronts TikTok is currently fighting on - KTVZ [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- Exxon has topped North Texas' biggest-companies list for 3 decades. Now there's a challenger to the throne - The Dallas Morning News [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- G20 Finance Officials Eye Solution to Digital Tax Row This Year - The New York Times [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- Earnings and fiscal debate could be catalysts for stocks in the week ahead - CNBC [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- Big Tech firms back suing Trump administration over rule that could drive out foreign students - Axios [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- Big Techs latest reckoning is coming as it continues to rack up record valuations - MarketWatch [Last Updated On: July 19th, 2020] [Originally Added On: July 19th, 2020]
- Here's a new reason to invest in Europe - WICZ [Last Updated On: July 21st, 2020] [Originally Added On: July 21st, 2020]
- Recovery from Covid-19 will be threatened if we don't learn to control big tech - The Guardian [Last Updated On: July 21st, 2020] [Originally Added On: July 21st, 2020]
- Tech watchdog calls on Facebook Oversight Board members to demand real power or resign - TechCrunch [Last Updated On: July 21st, 2020] [Originally Added On: July 21st, 2020]
- Roku Is A Strong Gatekeeper In Streaming, But Could Be Crushed By Big Tech Analyst - Deadline [Last Updated On: July 22nd, 2020] [Originally Added On: July 22nd, 2020]
- The Conservative Inc. to Big Tech Pipeline - The American Conservative [Last Updated On: July 22nd, 2020] [Originally Added On: July 22nd, 2020]
- Are Facebook and Alexa really listening? 6 common tech myths debunked - USA TODAY [Last Updated On: July 23rd, 2020] [Originally Added On: July 23rd, 2020]
- New Emails Reveal Warm Relationship Between Kamala Harris And Big Tech - HuffPost [Last Updated On: July 23rd, 2020] [Originally Added On: July 23rd, 2020]
- Amazon-led rally boosts Jeff Bezos and Big tech"s billionaire boys - Proactive Investors USA & Canada [Last Updated On: July 23rd, 2020] [Originally Added On: July 23rd, 2020]
- Twitter CEO Jack Dorsey Invited To Testify In Congressional Big Tech Hearing - The Federalist [Last Updated On: July 23rd, 2020] [Originally Added On: July 23rd, 2020]
- EU-wide digital tax on big tech touted as best resource - EURACTIV [Last Updated On: July 24th, 2020] [Originally Added On: July 24th, 2020]
- Cramer says this tech stock rally is not like 1999 but here is what could stop it - CNBC [Last Updated On: July 24th, 2020] [Originally Added On: July 24th, 2020]
- Report Doorcast: Big Tech antitrust hearing preview and the Xbox Games Showcase breakdown - Report Door [Last Updated On: July 24th, 2020] [Originally Added On: July 24th, 2020]
- The one big thing each tech CEO will tell Congress - Axios [Last Updated On: July 24th, 2020] [Originally Added On: July 24th, 2020]
- Big Tech Unmasked as Anti-conservative by Project Veritas - Newsmax [Last Updated On: July 24th, 2020] [Originally Added On: July 24th, 2020]
- Antitrust Hearing Involving Apple Chief Tim Cook and Other Big Tech CEOs Reportedly Postponed - MacRumors [Last Updated On: July 24th, 2020] [Originally Added On: July 24th, 2020]
- Amazon To Invest In Reliance Retail: Is Big Tech Joining Hands To Conquer India? - Inc42 Media [Last Updated On: July 26th, 2020] [Originally Added On: July 26th, 2020]
- Zuckerberg, Bezos, other tech CEOs to testify at anti-trust hearing - Toronto Star [Last Updated On: July 26th, 2020] [Originally Added On: July 26th, 2020]
- Lily Allen says she feels sad and calls out big tech amid Wiley antisemitism row - The Independent [Last Updated On: July 27th, 2020] [Originally Added On: July 27th, 2020]
- Big Tech feels the heat from Washington and small agency leaders dish: Tuesday Wake-Up Call - AdAge.com [Last Updated On: July 27th, 2020] [Originally Added On: July 27th, 2020]
- Overzealous government officials should stay out of big tech's way - Washington Times [Last Updated On: July 27th, 2020] [Originally Added On: July 27th, 2020]
- Mint Lite | India covid tally, protests across globe, big tech CEOs & other news - Livemint [Last Updated On: July 27th, 2020] [Originally Added On: July 27th, 2020]
- Big tech antitrust probe report from US Congress likely by early fall - Times Now [Last Updated On: July 27th, 2020] [Originally Added On: July 27th, 2020]
- Antitrust Hearing Involving Apple Chief Tim Cook and Other Big Tech CEOs Reportedly Postponed [Update:... - MacRumors [Last Updated On: July 27th, 2020] [Originally Added On: July 27th, 2020]
- Congressional antitrust probe of Big Tech expected by early fall - The Globe and Mail [Last Updated On: July 27th, 2020] [Originally Added On: July 27th, 2020]
- Big Tech chiefs get brief reprieve from govt hearing into their growing power - ARNnet [Last Updated On: July 27th, 2020] [Originally Added On: July 27th, 2020]
- Lawmakers keen to break up 'big tech' like Amazon and Google need to realize the world has changed a lot since Microsoft and Standard Oil - Fairfield... [Last Updated On: July 29th, 2020] [Originally Added On: July 29th, 2020]
- Stock futures are flat ahead of Fed decision and Big Tech testimony - CNBC [Last Updated On: July 29th, 2020] [Originally Added On: July 29th, 2020]
- Ahead of hearing with big tech CEOs, Cicilline says a Biden presidency would lead to regulation next year - Yahoo News [Last Updated On: July 29th, 2020] [Originally Added On: July 29th, 2020]
- Democrats hurt small business when they attack Big Tech | TheHill - The Hill [Last Updated On: July 29th, 2020] [Originally Added On: July 29th, 2020]
- Tech leads stocks higher as CEOs testify and Fed keeps rates near zero - Fox Business [Last Updated On: July 29th, 2020] [Originally Added On: July 29th, 2020]
- WATCH LIVE: Heads Of Amazon, Apple, Facebook And Google Testify On Big Tech's Power - NPR [Last Updated On: July 29th, 2020] [Originally Added On: July 29th, 2020]
- Big Tech to Testify: What Jim Cramer Is Watching - TheStreet [Last Updated On: July 29th, 2020] [Originally Added On: July 29th, 2020]
- Apple, Google, Amazon, other Big Tech companies have a climate problem; now being forced to clean up - Firstpost [Last Updated On: July 29th, 2020] [Originally Added On: July 29th, 2020]
- Commentary: Big Tech is engaged in a hostile takeover of our country - TheBlaze.com [Last Updated On: July 29th, 2020] [Originally Added On: July 29th, 2020]
- Slog AM: Big Tech's Anti-Trust Hearing, COVID-19 Goes to College, Boeing Is Boned - TheStranger.com [Last Updated On: July 29th, 2020] [Originally Added On: July 29th, 2020]
- Big tech antitrust probe report from Congress likely by early fall - Reuters [Last Updated On: July 30th, 2020] [Originally Added On: July 30th, 2020]
- Vergecast: Big Tech antitrust hearing preview and the Xbox Games Showcase breakdown - The Verge [Last Updated On: July 30th, 2020] [Originally Added On: July 30th, 2020]
- Biased Big Tech algorithms limit our lives and choices. Stop the online discrimination. - USA TODAY [Last Updated On: July 30th, 2020] [Originally Added On: July 30th, 2020]
- Big 5 Tech Stocks Have Trounced the Market. So Have Their Fundamentals. - Barron's [Last Updated On: July 30th, 2020] [Originally Added On: July 30th, 2020]
- Top antitrust Democrat opens hearing by comparing big tech firms to past monopolies | TheHill - The Hill [Last Updated On: July 30th, 2020] [Originally Added On: July 30th, 2020]
- Big Tech antitrust hearing could be colossal or mere theater - Roll Call [Last Updated On: July 30th, 2020] [Originally Added On: July 30th, 2020]
- Stop with the egg metaphor in discussing Big Tech break-ups | TheHill - The Hill [Last Updated On: July 30th, 2020] [Originally Added On: July 30th, 2020]