If you’ve been keeping up with the latest news, you know about the virtual big tech hearing between Congress and four of the biggest tech CEOs about monopolization. This sounds daunting on its own, but what does it mean for the future of social media? What changes can we as consumers expect in the future?
The Big Tech Hearing: What Was It?
The words big tech hearing may be a little intimidating, so let’s break it down. The CEOs from Apple, Facebook, Amazon, and Google were all called before Congress via a video conference call to discuss the growing evidence that each company is guilty of monopolizing.
Evidence included emails, documents, and business purchases that are all a solidified part of the investigation that started in June of last year. Many of the allegations were defended as ‘neutralizing’ of their competition, and most of the CEOs used vague language to prove that they ‘aim to give users what they’re looking for’.
How Will This Affect Social Media Going Forward?
Two of the CEOs present are in charge of Facebook and Apple. Facebook has had its fair share of accusations over the years regarding privacy concerns, and one of the most recent issues relating to their monopolization is the buyout of Instagram.
Facebook’s control of Instagram may not make a difference to users, but from various emails the buyout was proven to be a strategic move by Mark Zuckerberg to absorb the competitors that began to pose a threat. There is also evidence that the company used some other buyouts to track and identify future buyouts, such as Instagram.
Apple, on the other hand, suppresses their competition by blocking specific apps from their App Store. Apple’s built-in Screen Time limiting access to apps was created in direct competition with similar apps offered for download. To resolve this, Apple simply took the competitors off their App Store.
The Future of Tech
It is unclear what will come out of the findings of the five-and-a-half-hour big tech hearing, but it seems like tech and social media are changing as we know it. Now that the investigation is complete, the companies may be monitored closely to see if any other allegations come up.
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