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FX.co ★ Elon Musk calls for breakup of Amazon

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Forex Humor:::2020-06-18T14:52:06

Elon Musk calls for breakup of Amazon

Tesla and SpaceX CEO Elon Musk wrote on Twitter that it was the right time to break up Amazon as it had turned into a real monopoly. Indeed, Amazon has become a true industry leader and a giant among online retailers which is about to dominate the market. The company has been accused several times of monopolistic behaviour and has come under the scrutiny of US antitrust authorities. So far, Amazon has managed to successfully resist all the allegations of anti-competitive practices. Still, Elon Musk criticized Amazon saying that “monopolies are wrong”. Notably, some American lawmakers also support this view. Thus, Elizabeth Warren, the former Democratic presidential candidate, also insists on breaking up some of America's largest tech companies. The Senator states that nearly half of all e-commerce in the US goes through Amazon, while more than 70 percent of all internet traffic comes from websites owned by Google or Facebook. These companies use their resources to suppress small businesses and to substitute their own financial interests for the broader interests of the American people.


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