Big Tech told Congress there’s loads of competition. This chart says otherwise
The chief execs of Facebook, Amazon, Apple, and Alphabet (FAAA) took turns defending their business practices during an antitrust hearing in Congress on Wednesday. Each CEO faced scrutiny over slightly different matters, but they generally projected the same idea: their successes are simply the result of their own ingenuity, and not due any monopolistic power-plays despite the mounting evidence. “The retail market we participate in is extraordinarily large and competitive,” said Amazon’s Jeff Bezos, according to the Wall Street Journal. Bezos, by far the world’s richest person, broke records earlier this month when his fortune grew by $13 billion in…
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