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SCOTTSDALE, ARIZ. – No thanks. This is the approach taken by senior technology executives in their latest public comments on potential regulation.
As Barron reported, there is growing unrest in Washington and elsewhere about the role of large technology companies in the economy, and society in general.
Apple
(ticker: AAPL),
Amazon.com
(AMZN), parent of Google
Alphabet
(Google T
Facebook
(FB) are at the heart of the discussion.
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Not surprisingly, the companies themselves are not as keen on the idea of regulation. At the Code Technology Conference held yesterday in Scottsdale, Arizona, senior executives at Facebook, Amazon and Google raised the company's risk of dissolution.
Adam Mosseri, head of Facebook's Instagram unit, said it would be a "terrible" idea to remove Instagram from Facebook. According to him, a rotation would not solve the problems of content and electoral integrity and would make "exponentially" more difficult the protection of persons.
Amazon Web Services CEO Andy Jassy said that even if we would never "say" a split, he adds, "I just do not see it," noting that he sees no benefit. to separate AWS from the parent company.
YouTube CEO Susan Wojcicki confided during a difficult interview Monday afternoon on the scene that "we would have more regulation to offer." Although she was not directly questioned about a possible break-up of the company, she said that You Tube would "get there" "In case regulators or other circumstances would push Google to create YouTube."
According to several reports, the Ministry of Justice is looking at Apple and Google, while the Federal Trade Commission is studying Facebook and Amazon. At the same time, the Judiciary Committee of the House announced its intention to "conduct a thorough review of the market power held by the giant technology platforms".
There is growing debate that technology giants should voluntarily or forcibly sell off various businesses they have acquired in recent years. Senator Elizabeth Warren of Massachusetts, for example, suggested that Facebook abandon Instagram and WhatsApp, that Google sells YouTube and Amazon runs Amazon Web Services.
Professor Scott Galloway of NYU, who is scheduled to speak at the code conference on Tuesday, recently said Barron investors should lobby for the kind of spin-offs suggested by Warren, which he says would be a source of profit for investors.
Heavy technology
Nasdaq Composite
was up 0.6%, to 7,870 on Tuesday morning.
Write to Eric J. Savitz at [email protected]
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