Will Washington Put a Big Hurt on Amazon and Other Big Data?
30 Jul 2017 Marcel 0
With President Donald Trump lumping attacks on Amazon.com Inc. (AMZN) with the litany of tweeted half-thoughts and gripes about virtually every topic on political note, it would be easy to relegate his accusation of antitrust violations to the long list of Oval Office Twitter topics that shouldn’t be taken too seriously.
Indeed, there might not be much immediate threat from competition enforcers to Amazon’s near-term business plan, such as the company’s $14 billion bid to acquire Whole Foods Market Inc. (WFM). But an eventual investigation by antitrust enforcers into what may be Amazon’s biggest advantage in the market can’t be brushed off by the behemoth online retailer.
The government interest could be peaked by the company’s control over an almost unfathomable store of data containing consumers’ online shopping and Internet search habits. Amazon isn’t whistling past that prospect nor are its “Big Data” siblings Google Inc. (GOOGL) , Facebook Inc. (FB) , and Netflix Inc. (NFLX) —each of them dominant platforms in their segment of online commerce.The European Union is already taking action against what competition enforcers there believe are monopolistic abuses of the market power these companies have obtained. In June the European Commission handed Google a record-breaking $2.7 billion antitrust fine for abusing its dominance as a search engine and the other American Big Data firms are in the sights of European officials.
The U.S. enforcers haven’t taken similar steps yet, in large part because this country doesn’t have a far-reaching enforcement tool such as Europe’s restrictions on “abuse of dominance.”……
Continue reading at: https://www.thestreet.com/story/14247845/1/will-washington-put-a-big-hurt-on-amazon-and-other-big-data.html
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