The Blog of the European Association for Digital Transition
Amazon’s announcement last week that it was launching its own online pharmacy not only shook the US drugs market but also raised questions here in Europe. The online retail giant has already reshaped the shopping and shipping landscape. Now, it plans to enter the prescription and over the counter medicine market worth the equivalent of €260 billion in the US alone.
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For years, the big American technology companies have grown without too many regulatory impediments to the point of becoming global mastodons. Thanks to attractive products and services that respond to market demand, with loose or directly non-existent regulations in some areas, and wrapped in the American dream aura of the entrepreneur in their garage who becomes a billionaire, the big Silicon Valley companies have achieved such a powerful market position that many consider them de facto monopolies.
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When the history of the big technology companies in the twenty-first century is written, the date of July 29, 2020, might have its place. On that day, the four CEOs of the ‘Big Tech’ Amazon, Facebook, Google, and Apple appeared before the United States House of Representatives antitrust subcommittee, whose members have been investigating their alleged anti-competitive practices for years.
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