Google refutes ‘cooking’ accusations
“May I simply say that I can assure you we’re not cooking anything.”
Those were the words of Eric Schmidt in Washington at a congressional hearing yesterday. The anti-trust subcommittee of the Senate Judiciary are currently investigating whether Google’s market position has caused them to be irresponsible and abuse their position.
Another US government agency, the Federal Trade Commission, is also inquiring into Google’s market position.
Being the biggest search engine, Google, has considerable market power. There have been figures of a 75% market share quoted before which is astonishing. In many offline markets, companies would have been investigated a long time ago for their large market share.
Schmidt told senators “Google does nothing to block access to any of the competitors and other sources of information.”
Schmidt was also asked of he thought Google was a monopoly (dominant company). Schmidt responded that Google was ‘in that area’. He also went on to say that Google feels it has a certain amount of responsibility because of its extremely high market share.
When asked about Microsoft, who have seen years of investigations into their market status, Schmidt added “We get it. By that I mean, we get the lessons of our corporate predecessors.” Microsoft have been found to be anti-competitive in the past and have heavy fines as a consequence, something Google looks to avoid.
There is growing concern for Google as a company and many think it is getting too big. In the recent years they have acquired YouTube, DoubleClick and Motorola Mobility. Motorola Mobility was however, bought in order to gain patents for smartphones.
Schmidt was chief executive of the company but was replaced by Larry Page in April after 10 years in the position.