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Comment: Google, Apple, Facebook, Amazon build market power as Covid-19 accelerates long-term trend

By Mike Swift ( August 20, 2020, 20:38 GMT | Comment) -- Even as they endured a rough hearing before a US congressional antitrust subcommittee in late July, the chief executives of Google, Apple, Facebook and Amazon must have been succored by the knowledge that the next day, they would wow Wall Street their earnings results from the first full quarter of the Covid-19 pandemic. Those numbers suggest the pandemic is fueling long-term trends that are strengthening those companies' market power. Some trends are clear, such as the growth in traffic. Other impacts are less obvious, such as the competitive benefits of being able to have employees work from home.The chief executives of Google, Apple, Facebook, and Amazon had a tough day when they sweated through more than five hours of questions about their market dominance from a US congressional antitrust subcommittee in late July. ...

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