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Amazon CEO Jeff Bezos Agreed That The Us Authorities Should Conduct Checks On The Company

Amazon CEO Jeff Bezos Agreed That The Us Authorities Should Conduct Checks On The Company

The head of the American Corporation Amazon, Jeff Bezos, agrees that the US authorities should regularly conduct checks against it, according to the text of the entrepreneur's speech published on the company's website, which he is scheduled to deliver on Wednesday to the Subcommittee on Antitrust.

"I believe that Amazon should be carefully checked. We should conduct thorough checks on all major institutions, whether they are companies, agencies, or non-governmental organizations. Our responsibility is to show excellent results during these checks," Bezos said.

His speech focuses on the fact that Amazon "has invested $270 billion in the United States over the past decade." Bezos also emphasizes that "Amazon accounts for less than 1%" of the global retail market, which he estimates at $25 trillion, and "less than 4% of retail in the United States." According to the data provided in the text of the speech, Amazon stores, in particular, present the products of 1.7 million small and medium-sized businesses from around the world. Bezos emphasizes that "the world needs big companies," not just small ones.

About the hearing

At the meeting, lawmakers are also expected to hear speeches from Facebook, Apple, and Google executives. The hearing will focus on the dominant position of these corporations in the market. In their opening statements published on the Committee's website, all four actively advocate for the companies they lead.

"Apple does not have a dominant share in any of the markets where we do business. That applies not only to [smartphones] iPhones. This statement is true for any category of our products," Apple CEO Tim Cook said in a statement. He will also defend the App Store, saying, in particular, that the company's Commission for app developers is "comparable to or lower than the Commission charged by most" of Apple's competitors.

In turn, Facebook CEO Mark Zuckerberg intends to note that his company "is part of an industry that changed the world." "We face intense competition all over the world; we only succeed when we create things that people consider valuable. As a platform for ideas, we will always be at the center of important discussions about society and technology, which is why I called for [setting] new norms for the Internet. We compete with the companies present at these hearings, as well as with many others," the text of the entrepreneur's speech reads. Besides, he is going to tell lawmakers that any weakening of American high-tech companies will only play into the hands of competitors from China. "For example, China is creating its version of the Internet, focused on completely different ideas, and they are exporting their vision to other countries," Zuckerberg claims.

Google CEO Sundar Pichai plans to tell the hearing that he is ready to "partner with lawmakers to protect consumers and preserve the competitiveness of American technological advantages in the world."

In July 2019, it became known that the US authorities are preparing to launch a large-scale investigation into Amazon, Facebook, Google, and Apple to check for possible violations of antitrust laws on their part. According to Reuters, the powers in the proceedings will be divided between the US Federal Trade Commission, which has taken over the supervision of Amazon and Facebook, and the Justice Department, which handles the cases of Apple and Google. At the same time, Democrats in the House of representatives announced the beginning of their investigation.

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