"To restore the balance of power in our democracy, to promote competition, and to ensure that the next generation of technology innovation is as vibrant as the last, it's time to break up our biggest tech companies".
The far-reaching proposal would impose new rules on certain kinds of tech companies with $25 billion or more in annual revenue, forcing Amazon and Google to spin off parts of their companies and relinquish their overwhelming control over online commerce. It would limit their ability to expand and break up what she calls "anti-competitive mergers" - such as Facebook's purchase of Instagram and Amazon's acquisition of Whole Foods.
Warren, who is seeking to stand out in a crowded field of presidential candidates, said in a blog post that on their way to the top, the big tech companies purchased a long list of potential competitors, like Facebook's acquisition of Instagram. Such companies have bulldozed the competition, she said, adding that they've used our private information for profit, hurt small businesses and stifled innovation.
Warren was set to speak about the policy to supporters Friday in Long Island City, which would've been home to one of Amazon's headquarters in NY but the tech-conglomerate pulled out of the deal after critics said the city gave them unfair government incentives. Smaller companies would be subject to regulations but would not be forced to separate themselves from the online marketplace.
The tech companies have come under fire due to their role in rapidly displacing existing businesses.
Facebook declined to comment, while its counterparts didn't immediately respond to requests for comment.
The Democratic senator from MA, who's seeking the Democratic nomination for president, laid out her proposal in a Medium post entitled "Here's How We Can Break Up Big Tech".
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Warren's proposal would also prevent Amazon from selling its own branded products through its platform, resulting in lost revenue for the company but not killing the business model of taking a cut of every other transaction on the website.
U.S. Congress held a series of hearings previous year looking at the dominance of major tech companies and their role in displacing or swallowing up existing businesses, among other things. "I think that's important", said lawyer Kate Aufses, 32, who said she was undecided about which Democratic candidate she would support. She also said there is lax venture capitalist investment in new startups to compete with big tech companies "because it's so easy for the big companies to either snap up growing competitors or drive them out of business".
The Computer & Communications Industry Association, which represents the three firms cited by Ms Warren, disputed her analysis.
Google spent $21 million to lobby in 2018 while Amazon spent $14.2 million and Facebook spent $12.6 million, their filings to Congress reveal.
Warren's proposal has two key elements.
Warren made her political mark by going after big banks after the 2007-2009 financial crisis.
"Here's what will change", she continues.