In an announcement by the commissioners, it has come to light that a new task force would oversee the competition in U.S. technology markets.
Talking about the task force, it is all set to include current officials of in Bureau of Competition. Besides this, it would have 17 staff attorneys too. The main focus is to “enhance the bureau’s focus on technology-related sectors of the economy, including markets in which online platforms compete”.
Joe Simons, the chairman of FTC was quoted as saying, ”The role of technology in the economy and our lives grow more important every day”. Adding to his views he said, ”As I’ve noticed in the past, it makes sense for us to closely examine technology markets to ensure consumers benefit from free and fair competition”.
This move surely has been taken keeping a few big names in contexts like Facebook and Google. Also, a coalition of advocacy groups has argued that Facebook was too big for it to adequately care for user data for all three major apps.
The Bureau director Bruce Hoffman was of the view that ”Technology markets, which are rapidly evolving and touch so many other sectors of the economy, raise distinct challenges for antitrust enforcement. By centralizing our expertise and attention, the new task force will be able to focus on these markets exclusively – ensuring they are operating pursuant to the antitrust laws, and taking actions where they are not.”
Explaining the working of the task force Hoffman stated that it would work closely in relation