Question

Tech giants like Facebook or Google should be regulated because it is not ethical for firms to monopolize a market.

Answer 1

I agree with the statement. Today the technology has become a crucial part of everyday lives of Americans’. On a digital marketplace as the world becomes more dependent the regulatory framework are vital built to ensure competition and fairness. However tech giants like Google, Amazon, Facebook and Apple have been the envy of corporate America due to their influence, size, and remarkable growth. The big tech companies today own too much power and influence over our economy, our democracy, and our society that it poses a threat to economic activities. In America, they’re primarily focused on causing the harm to consumers from a decline in competition as they monopolize the market. Tech giants are powerful, for sure. Google and Facebook Inc. control together nearly 60 percent of digital ad revenue in America and 64 percent of revenue from mobile ad, according to eMarketer. It causes the harmful effects from increased concentration such as weak growth in productivity, lower private investment, increasing inequality and declining dynamism in business, or the rate at which firms enter and exit markets. Thus it is important that tech giants regulated to prevent anticompetitive platform privilege while promoting the growth and innovation.