In Order To Not Monopolize, Facebook And Apple Are Prohibited From Acquiring Other Companies

The US tech giant is barred from acquiring rival companies (Disruptor League)

JAKARTA - A new law banning tech giants such as Facebook, Apple, Microsoft, Alphabet, and Amazon from annexing rival companies.

The bill prohibits the merger or acquisition of companies with a market capital or market capitalization of more than USD 100 billion.

This law is claimed to cause healthy competition between companies and prioritize its own products rather than annexing its competitors.

According to Reuters, Josh Hawley's bill addressed a number of issues such as the anti-competition bill announced by a Democratic senator named Amy Klobuchar on Feb. The policy contains almost the same number of actions.

"I'm willing to work with him and anyone from anywhere and any background. I really like what Senator Klobuchar is proposing", Josh Hawley said that adding the draft policy is stricter than ever.

Senator Hawley has also been asked whether to back a technology critic named Lina Khan, one of the candidates for the Federal Trade Commission commissioner to enforce an anti-competition law that should be implemented immediately.

Hawley revealed that he was "quite impressed" with Khan's attitude. However, "I have not made a final decision".

The U.S. government has launched an investigation into alleged monopolies by the tech giants. The most highlighted was the acquisition action taken by the tech giant to stop its competitors.

A few years ago, when Facebook acquired WhatsApp and Instagram, this action was highlighted by many as part of an anti-competition. Facebook is also considered to be annexing other companies just to strengthen its own business.