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San Francisco, United States | AFP | Wednesday 7/24/2019 – UTC 8 By: Glenn Chapman Internet giants like Facebook, Google and Amazon have disrupted markets and culture in a lucrative rise to power that have regulators launching probes, imposing fines and even threatening to break the companies up.
Government regulators are scrambling to collar the online giants, often having to update rules designed for an analog world as the digital behemoths grow in size and influence.
Amazon recorded historic sales this month for its “Prime Day” event.
But e Marketer recently downgraded its assessment of Amazon’s share of the US e-commerce market to 37 percent from 50 percent.
Google dominates digital advertising, with 31 percent of the global total expected to go into its coffers this year, according to e Marketer.
Google comes under fire for the way it protects — or fails to protect — user data, from online browsing histories to locations captured by software on smartphones.
In January, France’s CNIL data watchdog slapped Google with a record 50-million-euro fine for failing to meet the EU’s tough General Data Protection Regulation (GDPR), which came into force early last year. US regulators who say Google failed to protect children from harmful content and data collection on its You Tube platform could also fine the company.
At the same time, a majority (55%) say they have been subjected to racial slurs or jokes, and about one-in-four (24%) have felt annoyed because people have made assumptions about their racial background.
Search engine Google remains the money-making engine for parent company Alphabet, routinely crushing any competition.
Most of its revenue comes from digital ads, which accounted for 6 billion of the 6 billion the Silicon Valley-based company took in last year.
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