In late July, the CEOs of four of the five largest tech firms in the US — Mark Zuckerberg of social media giant Facebook Inc; Sundar Pichai of dominant search engine operator Google; Jeff Bezos of e-commerce behemoth Amazon.com; and Tim Cook of iPhone maker Apple Inc — testified before a Congressional committee looking into their abuse of monopoly powers. Two decades earlier, Microsoft Corp, the third most valuable tech firm, was investigated for violating anti-trust laws and using its monopoly powers. On Oct 6, the US House of Representatives committee investigating Big Tech dropped its bombshell 449-page report. Its conclusion: All four companies are “monopolies” in one way or another that stifle competition and hurt consumers.

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