Congress aims at big tech companies but would hurt startups and innovation

In Politics by Michael Rae

Sen. Amy Klobuchar (D-MN) and Sen. Tom Cotton (R-AR) were among the bipartisan cosponsors of the Platform Competition and Opportunity Act (PCOA), a bill that proponents claim would limit the power of so-called big tech companies. The legislation would set a strict standard for mergers and acquisitions, drastically increasing the workload for companies and the agencies which oversee these transactions and potentially limiting the capacity for economic growth. 

Typically, an organization looking to purchase an outside company may either create an entirely new entity by buying another firm, called a “merger,” or obtain the smaller company and absorb it in an