New York introduces landmark antitrust bill to curb tech giants' market powers

state of New York has unveiled a landmark antitrust bill that would make it easier to sue big tech companies in cases of abuse of power.

According to reports, if bill is successfully passed in state, it could serve as a model for future legislation across United States. It also comes as a federal committee is conducting an anti-trust investigation into tech giants amid concerns that ir unmatched market power is suppressing competition. 

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New York Senate discuss bill

As per reports, Senator Mike Gianaris has informed that new bill (S8700A) is w being discussed in New York Senate by its consumer protection committee and its aims update antitrust laws for 21st century. He ded that power and mopoly by tech companies in market have grown to dangerous levels and authorities need to curb m. 

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Congress' Anti-trust Hearing 

Meanwhile, Four Big Tech CEOs -- Facebook’s Mark Zuckerberg, Amazon’s Jeff Bezos, Google's Sundar Pichai, and Apple's Tim Cook -- faced US Congress over ir organisations' practices as House capped its yearlong investigation on market dominance in tech sector.

According to reports, four CEOs faced US lawmakers virtually in Washington and answer questions involving accusations, data scoop, and unfair market vant. As per reports, critics have accused se companies of becoming powerful by gobbling up scores of rivals, stifling competition and invation, and raising prices for consumers.

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