Tech antitrust investigations could punish American success: Sun Microsystems co-founder Scott McNealy
Sun Microsystems co-founder Scott McNealy told FOX Business he sees antitrust investigations into Google, Amazon, Facebook and Apple as possibly punishing American success.
"I've always been curious as to why monopoly is a criminal act in the sense that we make all CEOs motivated to go create market power and then we punish them for that, or we punish the shareholders by breaking up the company or fining them,” he told FOX Business Neil Cavuto on Tuesday.
McNealy said he doesn't see the big tech companies as being "too big to fail" as some suggest, but does agree that Google and Facebook do hold dominance in advertising.
"One area where there is incredible concentration of power is with Google and Facebook in the digital ad space, where they have about two-thirds of the market.”
McNealy added, "If there is anybody who has a beef" with the size of these tech companies, it is small, medium-sized or larger companies who want to promote their product in the digital ad space.
The Depart of Justice agreed this week to handle potential antitrust investigations related to Apple and Google, while the Federal Trade Commission will focus on Facebook and Amazon.
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House lawmakers on Monday said they were looking into possible anti-competitive behavior by the major tech companies, which could lead to the first overhaul of antitrust rules in many decades.