So the fine is $5B: Does that change anything?

International Association of Privacy Professionals

“The fine is a joke, which is why Facebook’s trade associations such as NetChoice are lobbying for it,” Stoller said. “Who lobbies for their own fine unless it’s not actually a penalty? They want a good headline. So they want to make the number seem like a record fine. When it isn’t. The FTC wants you to compare it in absolute size, but that’s apples to oranges. If you compare it to Facebook’s revenue, it’s relatively small.” 

Tech Giants Brace for Washington Showdown in Echo of Bill Gates

Hedge Accordingly

The company executives scheduled to appear are Adam Cohen, Google’s director of economic policy, Matt Perault, head of global policy development at Facebook, Amazon associate general counsel for competition Nate Sutton, and Kyle Andeer, vice president of corporate law at Apple.E-commerce trade association NetChoice, which includes Google and Facebook, will tell the committee a different story: The reach of tech platforms gives small businesses the opportunity to target large audiences of potential customers through digital advertising.

Not long ago, their only choice was expensive advertising in a local newspaper or television station, the group said.“These platforms are helping small businesses the same way a large retailer operates as an anchor for a shopping center or mall,” Carl Szabo, vice president of NetChoice, will say, according to his prepared remarks. “The larger these platforms grow means the more customers small businesses can reach with better targeting and lower costs.”

NetChoice Filing to FTC for Competition and Consumer Protection in the 21st Century Hearings

NetChoice Filing to FTC for Competition and Consumer Protection in the 21st Century Hearings

‘Deepfake’ dilemma

Politico

Opinion on earth: “For antitech activists, no fine is too high — even $5 billion from Facebook,” writes Carl Szabo, vice president and general counsel at NetChoice.

For antitech activists, no fine is too high — Even $5 Billion from Facebook

Following the news that Facebook set aside $3 billion to pay an FTC fine of up to $5 billion, many in D.C. wait for news about the FTC’s investigation into the social media business.

Yet, antitech advocates already decided that the yet to be announced FTC fine is not enough.

Read more on Medium…

News publishers seize moment as Congress amps up tech scrutiny

Politico

The committee should “avoid creating a political platform for aggrieved industries and companies to complain about their competitors,” said Billy Easley, policy analyst for Americans for Prosperity, the Koch network’s policy and political arm. Carl Szabo of e-commerce trade group NetChoice, which counts Google and Facebook as members, blasted the hearing as “an attack on social media by big media companies upset that they no longer control our news and views.”

Antitrust Probe Starts Today With Focus On Big Tech’s Profits From News

Forbes

Rather optimistically, perhaps, e-commerce trade association NetChoice is attempting to portray the internet giants as underdogs being bullied by the media.

“Big media is showing its true colors by supporting antitrust exemptions for themselves, while demanding tougher antitrust enforcement on tech businesses,” says NetChoice vice president and general counsel Carl Szabo.

“Rather than looking for government to tear down tech businesses, big media should follow tech’s lead and innovate so they are more competitive.”

Tech Companies To Be Investigated With An “Open Mind”

Android Headlines

While most tech giants welcome regulation, they disagree that they are a monopoly. Most of these companies have been preparing for this investigation for a while, putting up a team of lawyers and policymakers to present their side of the story. The industry group NetChoice has sided with the internet giants and says that today’s hearing is an attempt by the big media to take government’s assistance to help them survive instead of innovating like social media companies.

Antitrust Hearings on the Hill

Politico Morning Tech

Americans for Prosperity’s Billy Easley said the committee should “avoid creating a political platform for aggrieved industries and companies to complain about their competitors.” And Carl Szabo of e-commerce trade group NetChoice blasted the hearing as “an attack on social media by big media companies upset that they no longer control our news and views.” Committee leaders, however, are standing by the session. “This is not, from my perspective, a beat-up of any one particular industry,” House Judiciary ranking member Doug Collins (R-Ga.) told Cristiano, adding that the hearing will explore “a real concern that’s being discussed out in the world.”