Facebook, Amazon, and Apple reached record levels of lobbying spending in 2019.
Source: Marketwatch
After the third quarter of last year, these tech companies' lobbying record expenses broke records one after another. This spending increased as these companies appeared more frequently among lawmakers and regulators.A series of bills targeting technology companies were introduced in Congress in 2019, covering issues such as privacy, censorship, security, algorithms, children's issues, and facial recognition. Furthermore, the Trump administration's Department of Justice and the Federal Trade Commission have launched antitrust investigations into big technology.
An Amazon spokesperson said on Wednesday that they are “always looking for ways to innovate for customers” and that their team in Washington, D.C., is “committed to making sure that our focus on the issues we promote matters to our customers and employees.” A Facebook spokesperson declined to comment, while Apple, Netflix, and Google did not immediately respond to requests for comment.
US Stock Intelligence Agent/Celeste