Big Tech needs to be regulated and more competition needs to be introduced, but 'don't chop off' their legs, says Sen. Mark Warner.
Sen. Mark Warner warned Tuesday against trying to break up big tech companies, like Facebook and Alphabet's Google.
"These companies have enormous, enormous power and we do need to introduce more competition," said Warner, vice chairman of the Senate Select Committee on Intelligence. He began studying Facebook as part of the committee's investigation into Russia's involvement in the 2016 presidential election. "These are now companies that don't exist in an American-only vacuum. These are all global companies," the senator said on"Power Lunch."
Alibaba is China's largest e-commerce platform and Tencent is the country's internet giant, while the search engine Baidu is known as China's answer to Google.Warner said there are ways to introduce more competition and transparency to the U.S. tech sector — which he thinks should be done before there is talk of breaking up the big companies.
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