As power continues to coalesce and solidify around a select few tech titans in the digital world, regulators across the globe have begun to ask some existential questions that could dramatically reshape the online landscape in which your dealership operates. Specifically, are conflicts of interest and stifled innovation running rampant among tech leaders like Google, Amazon, Apple, and Facebook?
Thanks to an upcoming hearing within the House Antitrust Subcommittee, we could be moving one step closer to finally figuring out the answers to these – and many other – questions.
As Steve Kovach of CNBC reports, next week's hearing featuring representatives from Apple, Amazon, Google, and Facebook on the 16th is sure to be full of fireworks and revelations as legislators question these tech leaders and potentially lay the groundwork for future probes by other governmental offices and agencies. Perhaps even more importantly, this hearing may serve as a public opportunity to make the case for breaking up the biggest names in the business into smaller, divested entities.
For instance, Google's penchant for squashing and silencing competitors in the search engine marketplace as a way to protect and bolster its core revenue generator (digital advertising) is sure to be a topic that is broached during this hearing. Additionally, the merits of spinning off these two business segments into separate companies as a way to avoid future conflicts of interest is also potentially on the docket – especially as this concept gains traffic among certain presidential hopefuls in the lead-up to the 2020 election cycle.
Could this upcoming hearing drastically reshape the power and scope held by the major players of the tech scene and send ripples into a variety of other industries that leverage these online platforms and advertising services, like the automotive sector? Most likely yes, which is why your dealership should definitely follow along in the coming days as we keep an eye on this developing story.