In this 2018 photo, a woman walks past the logo for Google at the China International Import Expo in Shanghai.I don’t work in the tech industry, but many small business owners like myself, have been able to increase sales and our customer base by using low-cost digital tools and platforms offered by various tech companies.
Utah Sen. Mike Lee, ranking member of the anti-trust panel, recently made it clear in a recent hearing that antitrust proposals being considered in Washington are not the direction Congress should go. He recognized that this legislation has major security problems and consequences that would give foreign companies that are not covered by the bill more power.
Similarly, these bills could prohibit search engines from giving high-quality, detailed results that we often rely on. Suppose you search for a restaurant near you. A detailed list of businesses would be provided with information about hours of operation, contact information, website and reviews. If this legislation passes, search engines may be banned from providing this useful information, causing frustration for many customers and retailers alike.
Lee has also expressed concern about giving federal agencies new power to redefine markets and control companies. Lee asked how much pro-competitive behavior could get caught in the bill and end up with the unintended consequence of the removal of popular products and services that helped consumers. On his website, Lee states, “This authority must be exercised carefully because government intervention tends to hinder, rather than empower, American innovators.