Fb and Amazon Boosted Lobbying Spending in 2020
WASHINGTON – Big tech companies are gearing up for a new way to manage and review their business with a proven strategy: opening their paperbacks.
Facebook Inc. and Amazon. According to a Wall Street Journal analysis of the latest data, com Inc. outperformed all other US companies in federal lobbying spending last year. It was the second year in a row that they have outperformed all other companies, including stalwarts like AT&T Inc. and Boeing Co.
Facebook, which has faced federal and state antitrust lawsuits as well as a series of hearings calling CEO Mark Zuckerberg to Washington, spent nearly $ 20 million in 2020, up nearly 18% year over year.
Amazon, which CEO Jeff Bezos first testified in front of Congress and continued to press to grow its government contractor business, spent around $ 18 million last year, up around 11% from 2019 spending.
“We knew that the Internet needed updated regulations, so we will continue to express our support for new rules that address today’s realities online,” said a Facebook spokesman.