Lack of antitrust laws for large tech companie such as Apple, Facebook, Microsoft, Amazon, etc.
The top 5 largest companies based on their market capitalization are Apple (2.368 T), Microsoft (2.215 T), alphabet (google 1.857 T), Amazon (1.672 T), and Facebook (928 B). Combining these five companies makes up roughly 38% of the S&P 500, one of the most popular market indexes. Not surprisingly, every one of these companies are in the high-flying tech industry. In addition, these companies are currently or have been in a lawsuit regarding business practices that violate antitrust regulations. Antitrust regulations are laws developed and enforced by the government to protect the consumer from business practices deemed predatory while ensuring a fair marketplace.
It is known that antitrust laws are essential to restrict a dominant firm from forming a monopoly in their marketplace, but have you ever thought if there are enough antitrust regulations for large tech companies?
Some firms believe that having antitrust regulation can cause more harm than benefit due to these laws restricting companies from innovation or becoming more effective. Large tech companies are powerful enough to lobby for deregulation laws; however, we believe that must come to an end and have effective antitrust laws in place to restrict these companies from capturing further market share.
– Please write the Body Section (3 paragraphs of 6 sentences each)
Who is affected/How are they affected?
You can use some of the sources attached for the references.