What to Expect When Big Tech Goes Before Congress

The transcript discusses upcoming hearings on Facebook's Libra and Google's antitrust issues, focusing on anti-conservative bias, competition, and privacy concerns. It highlights the FTC's $5 billion fine on Facebook and the implications of cryptocurrency regulation. The discussion also covers Facebook's global competition stance and the potential outcomes of antitrust investigations. The urgency of congressional actions before the 2020 campaign is emphasized.

What was a major focus of the Google-specific hearing?

• The impact of social media on mental health

• Anti-conservative bias in social media companies

• The environmental impact of tech companies

• The role of artificial intelligence in tech

What was the FTC's fine on Facebook related to?

• Monopoly practices

• Antitrust violations

• Privacy settlement

• Tax evasion

What concern did the Treasury Secretary express about Facebook's Libra?

• It will decrease the value of the dollar

• It poses a national security issue

• It could lead to increased inflation

• It will lead to job losses in the banking sector

What argument did Facebook present regarding digital currency innovation?

• It will eliminate the need for traditional banks

• If the US doesn't lead, other countries with different values will

• It will enhance user privacy

• It will reduce transaction fees globally

How did lawmakers generally respond to Facebook's argument about digital currency?

• They were supportive

• They were skeptical

• They were largely convinced

• They were indifferent

What is the role of congressional investigations in antitrust issues?

• To provide financial penalties

• To replace the FTC's role

• To build a record for potential legislation

• To immediately enforce new laws

What impact does the upcoming political campaign have on congressional work related to tech issues?

• It accelerates the legislative process

• It puts many discussions on hold

• It increases the number of hearings

• It decreases public interest