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Home / Business / Here’s what CEOs for Apple, Amazon, Facebook and Alphabet will say at the Mediterranean antitrust hearing

Here’s what CEOs for Apple, Amazon, Facebook and Alphabet will say at the Mediterranean antitrust hearing

The CEOs of the world’s four largest and most influential technology companies are scheduled to testify in front of the home antitrust panel on Wednesday and intend to highlight how their products improve American life and work.

Jeff Bezos of Amazon.com Inc. AMZN,
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, Tim Cook by Apple Inc. AAPL,
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, Mark Zuckerberg of Facebook Inc. FB,
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and Sundar Pichai from the Google GOOGL parent alphabet,
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will appear via videoconference from noon to the east.

The Subcommittee on Antitrust Law in the Judiciary is expected to grill executives who have never appeared before legislators about their business practices and the impact on consumers’ lives.

To read: Congress has millions of documents from Big Tech’s antitrust investigation and is ready to grill CEOs

According to prepared statements released Tuesday night, everyone will say:

Jeff Bezos

The axisless introductory statement is difficult in personal anecdotes and stories about how his parents and grandparents influenced him. To his grandfather: “He taught me that you could face a difficult problem. If you fail, go back and try again. You can come up with a way to a better place. “

Bezos emphasizes Amazon’s focus on customer service. “With an obsessive focus on customers, we are internally motivated to improve our services, add benefits and features, come up with new products, lower prices and speed up delivery times – sooner than we have to. … Not every store has this approach in the first place, but we do it and it is our greatest strength. “

He cites the positive numbers of the survey for the Amazon brand and notes that Amazon is investing billions of dollars in investment in the United States and its vast workforce, including stories about the Amazon worker and third-party vendors.

As for the competition, he says: “There is room for many winners in retail,” notes competitors such as Walmart, Target and Costco, as well as startups such as Shopify and Instacart. “The range of retail competitors and related services is constantly changing, and the only real constant in retail is customers’ desire for lower prices, better choice and convenience.” Since 2018, Amazon’s 49% share of the online retail spending market remains unfinished.

Bezos also claims that his company is not in control.

“I believe Amazon should be scrutinized. We should examine all major institutions, be they companies, government agencies or non-profit organizations. It is our responsibility to ensure that we subject this inspection to flying colors, “he writes.

Bezos ended with an award for the late rep. John Lewis and said that despite the challenges the country is currently facing, from racial inequality to coronavirus to climate change, “I have never been more optimistic about our future.”

Tim Cook

Cook begins his statement by praising Lewis and his legacy. He skips all personal anecdotes and jumps straight to the point, saying, “Apple is a unique American company whose success is only possible in this country.”

He says Apple is focused on production the best products, not necessarily the majority, and that it always focuses on the customer. Cook points to a saying from co-founder Steve Jobs: “We only do things that we would recommend to our family and friends.”

Cook notes the high level of satisfaction of Apple customers with their products and says that this is the “best measure” that the company is on the right track.

It claims that Apple has no dominant market share in any category and notes that there are competitors such as Samsung Electronics, LG Electronics, Huawai and Google in the “smartly competitive” smartphone market.

As for the App Store – targeting many antitrust complaints and sources of about $ 15 billion a year, taken from a 30% reduction in sales – Cook says app developers “set prices for their applications and never paid for” shelf space. ” “

“For the vast majority of app store applications, developers keep 100% of the money they earn,” he says, claiming that fees are cheaper for commission-based apps than distributing software before developing the app store. , This can be a bit misleading because Apple requires consumer apps to include in-app registrations and payments so Apple can make cuts – the principle that Hey has been upset lately when launching an email.

Cook boasts that Apple’s ecosystem has helped create nearly 2 million jobs in the United States and contributed half a trillion dollars to global trade in 2019 – “nothing less than an economic miracle.” He also mentioned Apple’s investment in education and its commitment to privacy.

Cook calls the inspection “reasonable and reasonable” and says that the company is approaching the hearing “with respect and humility,” although it says, “we are not interested in the facts.”

“I share the subcommittee’s belief that competition is a great virtue,” he says, “that it supports innovation, that it creates room for another great idea and that it gives consumers more choice.”

Mark Zuckerberg

Zuckerberg presents his statement as an essay on elementary school, organized into eight sections.

“Facebook is part of an industry that has changed the world,” he said in his introduction. “I am proud that we stand for American values, such as giving everyone a voice and expanding access to opportunities.”

He says Facebook is competing around the world and that “Our story would not be possible without US laws that promote competition and innovation. I believe that a strong and consistent competition policy is essential because it ensures a level playing field. “

He also emphasizes that “Facebook is a proud American society”, but points out that “there is no guarantee that our values ​​will prevail”. For example, China is building its own version of the Internet focused on very different ideas and exporting its vision to other countries. ”

As for its acquisitions, which are at the heart of the antitrust dispute, Zuckerberg claims that they have contributed to innovation. “Acquisitions combine different strengths of different companies,” he says. “The end result is better services that deliver more value to people and advertisers, which is a key goal of Facebook’s acquisition strategy.”

Zuckerberg also distorts the subject a bit. “I know our primary goal at this hearing is to talk about antitrust and competition issues, but with the four chief technical officers who appeared before Congress, we also have the opportunity to talk about how technology can better serve society. … I hope that at least some of today’s hearings will touch on the future, and how we could use our shared scope and resources to help people and businesses. “

He concludes with a slightly defensive remark: “As I understand our laws, societies are not bad just because they are big. Many large companies that cannot compete cease to exist. That’s why we focus on creating and updating our products to give people the best possible experience. …. I have long believed that the nature of our industry is that one day Facebook will replace a product. I want us to be the ones building it, because if we don’t, someone else. “

Sundar Pichai

Pichai, an immigrant from India, starts on the topic of opportunity, both personally and globally. “At its core, the discussion of competition is a discussion of opportunity,” he says.

“Our work would not have been possible without a long tradition of American innovation, and we are proud to be able to contribute to its future,” notes Google, which has 75,000 U.S. employees and estimates an estimated $ 20 billion in U.S. investment in 2018. and that the technology giant has been one of America’s top five investors for the past three years.

Pichai uses personal stories from Google users to help individuals and businesses on Main Street.

He also looks at Google’s technology investments in America’s future, saying “our teams of engineers are helping America consolidate its position as a global leader in new technologies such as artificial intelligence, self-driving cars and quantum computing.”

Regarding competition, he says that Google’s success is not guaranteed, and notes that they are highly competitive in global markets. “Today’s competitive environment looks nothing like 5 years ago, let alone 21 years ago, when Google launched its first product, Google Search,” he says.

He also claims that consumers have benefited from lower advertising prices. “For example, competition in advertising – from Twitter, Instagram, Pinterest, Comcast and others – has helped reduce online advertising costs by 40% over the last 10 years, with these savings being passed on to consumers through lower prices.”

He concludes by emphasizing Google’s commitment to user privacy – but states that “more needs to be done to protect users across industries” – and to ensure “America’s competitive technological advantage in the world.”

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