Jul 17, 2019

New squeeze for Facebook, Amazon

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Congress' Big Tech triple play

Illustration: Sarah Grillo/Axios

Republicans and Democrats on Capitol Hill who no longer seem able to agree on the color of the sky found common ground Tuesday across three committee hearings in both houses of Congress: Big Tech is too powerful and needs to be knocked down a peg.

Why it matters: While it's not out of the "all talk" stage yet, regulation of tech is starting to seem like something both parties can agree on — and that should worry Silicon Valley.

Go deeperArrowJul 17, 2019

Congress grills Facebook over cryptocurrency plans

Photo: Chesnot/Getty Images

Given Facebook's multitude of missteps and scandals over the past two years, it's no surprise that legislators are skeptical of the company's plans to launch a new cryptocurrency called Libra.

Why it matters: Facebook faces a host of legal and regulatory issues around the globe amid concerns over privacy, data sharing and money laundering.

Go deeperArrowJul 17, 2019

The end of tech's laissez-faire era

Illustration: Sarah Grillo/Axios

This week's series of big government moves against big tech platforms dropped a curtain on the era of hands-off regulatory policy that shaped the firms.

Why it matters: A generation of firms led by Google and Facebook that grew rich and powerful while the Feds stayed out of their way must now adjust to government action as a way of life. Meanwhile, legislators and regulators will have to figure out how to protect the public while preserving the industry's vitality and creativity.

Go deeperArrowJul 25, 2019