Amazon: the Treasury Secretary's accusations

Amazon: the Treasury Secretary's accusations

The US Department of Justice has recently issued a decree that actually initiates an antitrust investigation against giants like Google, Facebook, Amazon is Apple. The purpose of the initiative is to verify whether these companies have carried out anti-competitive conduct by exploiting their dominant position on the market.

The news was commented by several analysts so as to also attract the attention of the general press all over the world, but the most critical intervention was undoubtedly that of Steven Mnuchin, Treasury Secretary, according to which the online activity of Jeff Bezos' creature would have devastated the US retail sector.

Mnuchin would not have denied the various benefits to the economy generated by Seattle, but in his opinion it could not be denied that it was detrimental to competitiveness. The investigation by the Department of Justice would therefore be justified, only in this way can the damage caused by the Big Company to market dynamics be precisely defined.

Specifically, the Attorney General will have to investigate how the high tech giants have managed to acquire such great economic power in a relatively short time, what were the consequences for competing companies and consumers, and how these behaviors may have limited innovation in the reference sectors.

For the moment Amazon would not have accused particular repercussions following the news of the investigation, Wednesday its actions would have lost 1% of the value to then recover it quite quickly, besides Bezos has recently declared itself in favor of the fact that the American authorities can inspect the conduct of large companies.

You May Also Like

Leave a Reply

Your email address will not be published. Required fields are marked *