Large Tech’s massive week: Historic antitrust listening to and file income put trade giants in highlight

Amazon CEO Jeff Bezos solutions questions by way of video throughout this week’s landmark antitrust listening to.

Large Tech spent back-to-back days within the nationwide highlight this week between a long-anticipated Congressional hearing and second-quarter earnings studies.

The juxtaposed occasions paint a revealing image of the dangers and alternatives corporations like Amazon face as they area accusations that they’ve grown too highly effective whereas raking in file income from clients who depend on their companies greater than ever.

We talk about this inflection level for Large Tech, Amazon’s blockbuster income, plus the NBA’s partnership with Microsoft Teams, on this week’s GeekWire podcast:

The Home antitrust subcommittee interviewed Amazon CEO Jeff Bezos, together with Apple’s Tim Cook dinner, Google’s Sundar Pichai, and Fb’s Mark Zuckerberg throughout a wide-ranging digital listening to on the facility of Large Tech.

Lawmakers grilled Bezos on Amazon’s remedy of third-party sellers, the way it prioritized “essential items” throughout the coronavirus disaster, policing counterfeit items, and extra. They didn’t handle to get Bezos to confess something notably incriminating, however his incapacity to confidently deny their claims about Amazon utilizing its may to compete with third events spoke volumes. And whereas members of Congress don’t have the flexibility to implement present antitrust regulation, they’ll rewrite these legal guidelines in the event that they discover them insufficient for the digital age.

In the meantime, clients are counting on Amazon greater than ever — and it’s displaying up on the corporate’s backside line. The Seattle tech large blew past Wall Street expectations for its second quarter, reporting $88.9 billion in income and $5.2 billion in income, regardless of spending $4 billion on COVID-19 initiatives. Amazon additionally confirmed it has grown to greater than 1 million workers and seasonal staff around the globe for the primary time throughout Thursday’s earnings name.

In the course of the listening to, Bezos claimed that Amazon has change into a lifeline to clients throughout the pandemic due to its scale, which additionally permits the corporate to rent hundreds whereas others are shedding staff throughout the nation.

However critics need Amazon to speculate extra of its income into wages and advantages for workers on the frontlines of the coronavirus disaster. Amazon declined to say if it will reinstate its previous hazard pay for its logistics staff or issue additional bonuses.

Hear above or subscribe to GeekWire in any podcast app.

Showing this week are GeekWire’s Todd Bishop, Monica Nickelsburg and John Cook dinner. Podcast produced by Curt Milton. Theme music by Daniel L.Okay. Caldwell.

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