Amazon’s CEO, Jeff Bezos, the richest man in the world, attempted to roll out a heart-wrenching, pulling-himself-up-by-the-bootstraps story about his early years to disarm hearing watchers as to what was to come in the way of hard evidence against his company. According to evidence introduced in the hearing, Amazon, the company he founded in his garage, has been using a raft of dirty, sneaky tricks to seduce small businesses into selling their wares at Amazon.com, then spying on their internal sales data that Amazon collects in order to crush them and steal their business…
“Our investigation produced documents that show that sometimes Amazon doesn’t play fairly, crossing the line from robust competition to predatory pricing to destroy rivals rather than out-compete them,” said Congresswoman Mary Gay Scanlon.
By Pam Martens and Russ Martens of Wall Street on Parade.
The CEOs of four of the most valuable technology companies in the world — Google’s Sundar Pichai, Amazon’s Jeff Bezos, Facebook’s Mark Zuckerberg and Apple’s Tim Cook — testified remotely on Wednesday in a House investigation into whether they are exercising monopoly power in violation of antitrust law in the United States and need to be broken up or more tightly regulated.
Amazon and Facebook came out of the hearing the most severely damaged with evidence obtained by the House Judiciary’s Subcommittee on Antitrust, Commercial and Administrative Law that strongly suggests they have engaged in illegal, predatory behavior.
There was also significant evidence that Google…
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