Big Tech Monopolies Endanger American Security
Washington, D.C. — As lawmakers in Washington accelerate efforts to crack down on Big Tech, the monopolies have doubled down on a lobbying campaign that claims their concentrated power is essential for America’s national security interests and competition with China. Today, the American Economic Liberties Project released a report entitled, “Big Tech Monopolies Endanger American Security,” which presents irrefutable evidence that this argument is hollow from the inside out. The report details how Apple, Amazon, Google, Facebook, and Microsoft have repeatedly prioritized shareholder profit above all else, and in fact, consistently engage in behavior that is in direct contrast to U.S. national security interests in order to maintain their monopoly power.
“We must emphatically refute the lie that Big Tech companies are flag bearers of our national security interests when time and time again, they’ve chosen to prioritize their market power over American interests,“ said Matt Stoller, Director of Research at the American Economic Liberties Project. “These companies have undermined American interests internationally and caved to the demands of authoritarian regimes, all the while stifling innovation in our own borders through anticompetitive behavior. A competitive, diversified economy that breeds innovation, not a handful of monopoly powers, is what strengthens our national power and allows us to adequately compete on the international stage.”
From supporting the antidemocratic actions of other countries in exchange for a sizable contract to profiting off of policy decisions that actively harm Americans, the report catalogues the numerous instances in which Big Tech has actively undermined U.S. national security interests and acted directly in contrast to the public interest to protect their monopoly positions. “Big Tech Monopolies Endanger American Security” makes it clear that taking antitrust action against these giants and prioritizing a competitive economy is the only true path forward to safeguarding U.S. national security.