Amazon.com founder Jeff Bezos has seen his net worth soar by $63.6 billion (Dh233.6bn) this year. AFP
Amazon.com founder Jeff Bezos has seen his net worth soar by $63.6 billion (Dh233.6bn) this year. AFP
Amazon.com founder Jeff Bezos has seen his net worth soar by $63.6 billion (Dh233.6bn) this year. AFP
Amazon.com founder Jeff Bezos has seen his net worth soar by $63.6 billion (Dh233.6bn) this year. AFP

Big Tech CEOs stress American roots and values in Congress grilling


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Big Tech's top executives underscored their firms' American roots and values on Wednesday as they faced a grilling in Congress over their extraordinary economic power and influence.

The CEOs of Amazon, Apple, Facebook and Google offered an upbeat assessment of the tech landscape as they prepared for an onslaught of criticism at a House of Representatives hearing expected to be a rare political spectacle.

The hearing comes amid rising concerns over Big Tech dominance, which has become even more pronounced during the coronavirus pandemic as they leverage online platforms for needed goods and services.

The unprecedented joint appearance - remotely by video - before the House Judiciary Committee features Tim Cook of Apple, Jeff Bezos of Amazon, Mark Zuckerberg of Facebook and Sundar Pichai of Google and its parent firm Alphabet.

The hearing is part of a probe into the competitive market landscape and antitrust law, but questioning is likely to veer into other areas such as hate speech and content moderation, economic inequality, privacy and data protection and even claims of political "bias" from President Donald Trump and his allies.

In prepared remarks, the executives sought to highlight their roots and values and how the companies have benefitted average Americans.

"An important way we contribute is by building products that are helpful to American users in moments big and small, whether they are looking for a faster route home, learning how to cook a new dish on YouTube, or growing a small business," Mr Pichai said in his remarks, claiming Google services "provide thousands of dollars a year in value to the average American."

Mr Cook said Apple is "a uniquely American company whose success is only possible in this country," and that the California giant is "motivated by the mission to put things into the world that enrich people's lives."

Mr Bezos, in his first appearance before a congressional committee, spoke of his modest upbringing and initial backing from his parents to start Amazon and its early losses of billions of dollars.

"I walked away from a steady job into a Seattle garage to found my startup, fully understanding that it might not work," said Mr Bezos, who is the world's richest person based on his Amazon stake.

Mr Zuckerberg called social media colossus Facebook a "proudly American company" and added that "our story would not have been possible without US laws that encourage competition and innovation."

But hours ahead of the hearing, fast-growing video app TikTok accused Facebook of "maligning attacks" that are part of a movement "disguised as patriotism and designed to put an end to our very presence in the US."

TiKTok welcomes "fair competition" chief executive Kevin Mayer said in a blog post, while adding that "without TikTok, American advertisers would again be left with few choices."

The hearing is part of a congressional probe into "online platforms and market power" and takes place against a backdrop of antitrust investigations in the US, Europe and elsewhere.

Current US antitrust laws make it difficult for enforcers to target companies simply for being large or dominant without also showing harm to consumers or abuse of market power.

The committee, however, could lay a blueprint for antitrust in the digital era that would require a fundamental rewrite of the century-old competition rules.

Some analysts say the hearing could offer fresh insights into how Big Tech "platforms" squelch competition by buying rivals or copying products from rivals.

Apple's hefty commissions for its App Store and Amazon's dealings with third-party sellers are expected to come under scrutiny.

Google, which has faced antitrust investigations in Europe, will face questions on whether it favors its own services to the detriment of rivals and Facebook for its dominance of the social media landscape including its acquisitions of Instagram and WhatsApp.

Robert Atkinson of the Information Technology and Innovation Foundation, a think tank often aligned with the sector, said the political theater may distract from the issue of competition and focus on issues "from privacy to political speech."

"These companies create enormous value for hundreds of millions of users and small businesses," Atkinson said. "Congress shouldn't twist antitrust law to launch an ill-defined broadside on internet platforms as a class."

PAKISTAN SQUAD

Pakistan - Sarfraz Ahmed (captain), Azhar Ali, Fakhar Zaman, Imam-ul-Haq, Babar Azam, Shoaib Malik, Mohammad Hafeez, Haris Sohail, Faheem Ashraf, Shadab Khan, Mohammad Nawaz, Mohammad Amir, Hasan Ali, Aamer Yamin, Rumman Raees.

Buy farm-fresh food

The UAE is stepping up its game when it comes to platforms for local farms to show off and sell their produce.

In Dubai, visit Emirati Farmers Souq at The Pointe every Saturday from 8am to 2pm, which has produce from Al Ammar Farm, Omar Al Katri Farm, Hikarivege Vegetables, Rashed Farms and Al Khaleej Honey Trading, among others. 

In Sharjah, the Aljada residential community will launch a new outdoor farmers’ market every Friday starting this weekend. Manbat will be held from 3pm to 8pm, and will host 30 farmers, local home-grown entrepreneurs and food stalls from the teams behind Badia Farms; Emirates Hydroponics Farms; Modern Organic Farm; Revolution Real; Astraea Farms; and Al Khaleej Food. 

In Abu Dhabi, order farm produce from Food Crowd, an online grocery platform that supplies fresh and organic ingredients directly from farms such as Emirates Bio Farm, TFC, Armela Farms and mother company Al Dahra. 

THURSDAY'S FIXTURES

4pm Maratha Arabians v Northern Warriors

6.15pm Deccan Gladiators v Pune Devils

8.30pm Delhi Bulls v Bangla Tigers