Warren plan would break up tech giants
WASHINGTON – Democratic Sen. Elizabeth Warren pledged on Friday to take aim at Amazon, Facebook and Google if she is elected president in 2020, breaking apart each of the big technology companies and introducing sweeping new regulation of Silicon Valley.
The proposal marks the most ambitious and aggressive effort targeting the tech industry offered by any Democratic contender for the White House, and it could put pressure on other presidential aspirants to offer similar plans for more aggressive tech oversight.
“To restore the balance of power in our democracy, to promote competition and to ensure that the next generation of technology innovation is as vibrant as the last, it’s time to break up our biggest tech companies,” Warren said.
Her plan primarily targets only those companies with annual revenue over $90 billion, and it would embolden federal and state regulators to issue steep fines and other penalties that harm competition or consumers.