Should Amazon Be Broken Up?
Lisa Driscol, a typical small town resident in Ohio, was a loyal customer of her neighborhood’s independent shops and small businesses (like us at WNDW). Lisa watched with a heavy heart as her favorite local bookstore struggled to compete with online superstores like Amazon. Despite her loyalty, the economic realities forced the bookstore to close its doors, leaving Lisa and her neighbors with an empty storefront in the middle of town.
This week, Amazon found its own troubles, when the federal authorities at the FTC brought an antitrust lawsuit against the retailer, making them the fourth major tech giant to be sued by the U.S. government since 2022.
The allegations against Amazon revolve around claims of anticompetitive behavior and unfair strategies employed to maintain their dominant monopoly. Meta, Microsoft and Google have faced similar FTC lawsuits, with accusations concerning their stranglehold on digital advertising and social networking.
These tech giants gobble up 60% of global online advertising revenue, a staggering number considering this is more than a $500 billion annual industry.
Ironically, it’s estimated that up to 80% of small businesses, just like Lisa’s local bookshop, rely on the advertising services that Meta, Amazon, and Google provide.
Advocates for small business and tech start ups are pounding the table in support of breaking up these giants, but there are always unforeseen consequences. What specific problems might pop up if these giants are split up into smaller pieces? Will the benefits of increased competition outweigh the harmful effects of bringing down companies that are the backbone of the digital ecosystem?
We want your opinion…