Statement on the FTC’s Investigation of Big Tech’s Past Acquisitions

Date: 12 Feb 2020 | posted in: Press Release | 0 Facebooktwitterredditmail

In response to the Federal Trade Commission’s (FTC) announcement that it would examine past acquisitions by large technology companies, ILSR Co-Director Stacy Mitchell released the following statement: 

“Many of the innovations we attribute to Amazon are in fact technologies acquired through acquisitions, not internal research and development. These deals have allowed Amazon to buy key innovations, including the core functionality behind Alexa, microchip technology that has powered the growth of AWS, and robotics technology that has fueled its automated warehouses.

“Over the past decade, Amazon has been allowed to buy its way into entire new industries, eliminating potential competitors in the process. By not scrutinizing this slew of acquisitions, the FTC has allowed a few tech giants to dominate the flow of both information and goods.

“For years, in congressional testimonycomment letters to the agencyreports, and op-eds, ILSR has pointed to lax merger enforcement at the FTC as a primary driver of Amazon’s market power.

“While we’re glad the FTC is finally acknowledging that there’s a problem, we need more than a study. We also need a significant course correction.”

FOR MORE INFORMATION and to schedule an interview, call Jess Del Fiacco at 612-844-1330 or email
Photo: Flickr

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Stacy Mitchell

Stacy Mitchell is co-director of the Institute for Local Self-Reliance and directs its Independent Business Initiative, which produces research and designs policy to counter concentrated corporate power and strengthen local economies.