CEOs of Amazon, Apple, Facebook, and Google testified before US Congress today during a hearing on the market dominance of each company.
There is a concern across party lines that these companies wield too much power in their respective markets.
A year-long bipartisan investigation has lead to today’s hearing, where the tech giants’ CEOs will answer questions via video conference.
As it relates to Google specifically, Congress wants answers regarding its dominance in search, digital advertising, and allegedly favoring itself ahead of competitors in both areas.
In a statement to the U.S. House Judiciary Subcommittee on Antitrust, Commercial, and Administrative Law – Google CEO Sundar Pichai painted a positive picture of his company.
Although an unexpected remark was made toward the end of Pichai’s statement regarding the company’s future.
“Just as America’s technology leadership is not inevitable, Google’s continued success is not guaranteed. New competitors emerge every day, and today users have more access to information than ever before. Competition drives us to innovate, and it also leads to better products, lower prices and more choices for everyone.”
It comes as a surprise to hear the CEO of a company that’s been dominant for over decade sound so uncertain about its future.
There are certainly no indications that Google will remain anything but dominant for the foreseeable future.
Pichai may have only been trying to ease concerns about Google’s market dominance in saying even his company is not impervious to competitors.
The congressional hearing is still ongoing and this story will be updated with more information.
Mr. Pichai’s statement was released in advance here.