- According to Senator Amy Klobuchar, an “incredible cash rush” against a pioneering antitrust law reviewing the power of US big tech companies impeded passage of the law, Bloomberg reports.
- Those dollars have funded advertising aimed at fueling opposition to America’s Innovation and Choice Online Act, she said at the Code conference in Los Angeles.
- Tech-funded organizations have spent $120 million on political advertising since 2021, surpassing the pharmaceutical industry for the first time. Almost all the money was aimed at Klobuchar’s bill.
- That’s on top of the nearly $95 million alphabet inc WELL Google Google, apple inc AAPL, Amazon.com Inc AMZNand Metaplatforms Inc META and their trade groups have spent lobbying since 2021.
- The bill has raised concerns about its impact on content moderation, but Klobuchar has dismissed the concerns and sees no real obstacle in them.
- Amazon posted a record $4.98 million, up 2.5% year-on-year, through lobbying in Q2.
- Apple handed out $1.9 million in Q2 versus $2.5 million in Q1.
- Google spent $2.77 million, up 32% year over year and down 6.4% quarter over quarter.
- microsoft corp MSFT spent $2.41 million in the second quarter, down 2.4% year over year.
- Photo by Sharon McCutcheon on Unsplash
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