July 27, 2020, New York, NY – Economic Security Project Co-Chair Chris Hughes made the following statement ahead of the July 29 hearing on antitrust issues by the House Judiciary Committee:
“The upcoming Congressional hearing involving CEOs from America’s biggest tech companies is a much-needed step toward oversight of an industry with virtually none of the checks on power required of other major businesses. These companies have been allowed to grow
exponentially into monopolies that write their own rules and stifle entrepreneurship. Americans have suffered the consequences of this crisis of accountability in our democracy, civility and public trust. We should not rely on any corporation to self-regulate, and I’m grateful political leaders are transcending party lines to take action and curtail the undue power and influence of these corporations.”
The Economic Security Project also announced its latest slate of investments for its Anti-Monopoly Fund. AMF will distribute $1,625,000 to 14 new grantees working on how corporate concentration affects small businesses, pharma, labor and the economy at large.