The Covid-19 pandemic has had a devastating impact on small businesses across the Commonwealth and country (many of which are Black and minority-owned). But what’s not discussed is how Big Tech monopolies, like Amazon and Google, have worked to obliterate their small competitors during the pandemic, forcing many of them to close their doors for good.
Stay-at-home orders initiated during the beginning of the pandemic have made Americans even more reliant on e-commerce, which has greatly profited Amazon. The company now has so much new revenue that it can afford to lose money on its free two-day shipping service. As a result 200,000 small businesses have permanently closed. The practically instant delivery that Amazon offers leaves no room for small businesses to survive and compete.
Before Congress is a package of six antitrust bills targeting Big Tech. The goal of this legislation is to hold Big Tech accountable for devastating competition and hurting consumers by overhauling our outdated antitrust rules. I hope Congress acts before more small businesses in our community, Commonwealth, and nation suffer.