Meta topped Big Tech in lobbying spending for the second quarter of 2024, and ByteDance spent more than ever, as both companies grappled with regulatory threats.
Why it matters: Tech regulation may move slowly, and more bills ultimately die than make it to the floor. But when there is action, tech companies are willing to shell out to fight off legislation they don't like.
By the numbers: In Q2 2024, the top spenders were Meta, Amazon and ByteDance.
- Meta: $6 million
- Amazon: $4.5 million
- ByteDance: $3.3 million
Other companies kept their spending levels fairly steady from previous quarters.
- Google: $3 million
- Microsoft: $2.4 million
- Apple: $2.1 million
- Oracle: $2 million
- IBM: $2 million
What's inside: Tech companies lobbied the House, Senate and Biden administration on political advertising, election integrity, kids online safety, every AI bill floating around, federal privacy, digital service taxes, Section 230, foreign trade policies, chips, quantum and more.
- ByteDance had plenty of reason to deploy more lobbyists than ever on Capitol Hill as it tried and failed to keep the divest-or-ban bill from passing.
- Meta, more than any other tech company, will likely be most directly impacted by KOSA and COPPA 2.0, which are poised to pass the Senate soon.
AI companies still don't spend nearly as much as Big Tech, but they're spending more and more by quarter.
- OpenAI: $460,000 compared to $340,000 the previous quarter
- C3 AI: $130,000 compared to $60,000 the previous quarter
- A16Z: $660,000 compared to $280,000 the previous quarter
- Anthropic: $150,000 compared to $100,000 the previous quarter
Topics on the AI companies' lobbying forms include:
- Open source AI, digital assets, AI governance from agencies, AI bills around elections and deepfakes and the annual defense policy bill.
