A new proposal by Senator Josh Hawley calling for a complete revamping and restructuring of the Federal Trade Commission (FTC) raised the eyebrows of tech companies at Silicon Valley. The proposal gets way too controversial when it names the tech giants Google and Facebook by its name denoting as instances.
“The FTC has stood by as major corporations have consolidated their power and stifled competition,” Hawley writes in the paper. “The agency as presently constituted is in no shape to ensure competition in today’s markets, let alone tomorrow’s.”
Here’s what the new proposal aims to accomplish,
In fact, he named the big tech companies Google and Facebook in his proposal,
“Google and Facebook have acquired hundreds of companies in the last two decades, yet the FTC never once intervened to try to block any of these acquisitions,” the section reads. “The reality is the FTC is not putting even its current resources to effective use because the FTC is poorly designed.”
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