Top takeaways from the antitrust Royal Rumble

One for each butt in the hot seat, plus a few more.

Yesterday’s antitrust hearing/circus with the CEOs of Amazon, Apple, Facebook, and Google had a bit of everything.

Here’s one takeaway for each butt in the hot seat, plus a couple more.

The receipts looked baaaad. The questioners whipped out 2012 emails showing Mark Zuckerberg was very worried about Instagram, a competitor at the time. 

One memorable line from his outbox: “Instagram can hurt us meaningfully without becoming a huge business.” The Verge called the emails “clear statements” that Zuck “moved to buy the upstart app to insulate Facebook from current and future competition.”

It got hot inside Google’s garden. CEO Sundar Pichai took heat for an investigation by The Markup that showed many searches starting on Google… end up right back on Google (it found 41% of the first page of Google mobile results is taken up by Google products).

Those words won’t reassure anybody. Last week, The Wall Street Journal dropped a bombshell saying Amazon invested in startups — and used the intel to launch its own private-label goods. 

When asked Wednesday, Bezos said Amazon has rules against doing that. Then he added: “I can’t guarantee you that policy has never been violated.”

Tim Cook took the fewest questions. The New York Times’s tally showed he faced 35, vs. ~60 for the others. When it was his turn in the spotlight, he was fightin’ off questions about the App Store.

While all eyes were glued to the livestream…

Your take

We asked y’all which Big Tech company would reach a $2T market cap fastest. ~3k readers responded:

  • 57.8%: Amazon (current market cap: ~$1.51T)
  • 12.3%: Apple (~$1.6T)
  • 10.8%: Tesla (~$278B)
  • 7.4%: Alphabet/Google (~$1T)
  • 4.3%: Facebook (~$665B)
  • 6.5%: Someone else

Get the 5-minute roundup you’ll actually read in your inbox​

Business and tech news in 5 minutes or less​

Psst

How'd Bezos build a billion dollar empire?

In 1994, Jeff Bezos discovered a shocking stat: Internet usage grew 2,300% per year.

Data shows where markets are headed.

And that’s why we built Trends — to show you up-and-coming market opportunities about to explode. Interested?

We’re shooting our shot…

Start your mornings with The Daily.

Get the freshly baked 5-minute newsletter every day except Saturdays.

It’s filled with the most interesting stories on business, tech, and the internet.

And written for innovators of every industry. Sign up for the news that slaps.

If you don’t like it, unsubscribe any time. Privacy policy.

[email-submission-form redirect-to-home="true" button-text="Join Free" include-trends-opt-in="true" id="main-signup-form" fail-url="" success-url="https://thehustle.co/signup" default-source="thehustleco" default-campaign="home"]
<script type="text/javascript"> var onloadCallback = function() { grecaptcha.render('verify-your-humanity', { 'sitekey' : '6LdddrcZAAAAALyttpvOqiwQGwq5BNhgDz4tMQGE' }); }; function getCookieValue(a) { var b = document.cookie.match('(^|[^;]+)\\s*' + a + '\\s*=\\s*([^;]+)'); return b ? atob(decodeURIComponent(b.pop())) : ''; } function setHiddenFieldValue(wrappingDiv, searchParams, className, utmName, cookieName, defaultValue) { var el = wrappingDiv.getElementsByClassName(className)[0]; var existingVal = el.getAttribute('value'); var newVal = searchParams.get(utmName) || getCookieValue(cookieName); if ((existingVal == null || existingVal == '' || existingVal == defaultValue) && (newVal != null && newVal != '')) { el.setAttribute('value', newVal); } } function setHiddenFieldValueFromUtm( wrappingDiv, searchParams, className, utmName, defaultValue ) { var el = wrappingDiv.getElementsByClassName(className)[0]; if (el != null) { var existingVal = el.getAttribute("value"); var newVal = searchParams.get(utmName); if (newVal != null && newVal != "") { el.setAttribute("value", newVal); } } } function initForm() { var wrappingDivs = document.getElementsByClassName('email-submission'); wrappingDivs.forEach(wrappingDiv => { var sp = new URLSearchParams(window.location.search); setHiddenFieldValue(wrappingDiv, sp, 'funnel-source', 'utm_source', 'funnel_source', 'thehustleco'); setHiddenFieldValue(wrappingDiv, sp, 'funnel-campaign', 'utm_campaign', 'funnel_campaign', 'home'); setHiddenFieldValue(wrappingDiv, sp, 'funnel-medium', 'utm_medium', 'funnel_medium', ''); setHiddenFieldValue(wrappingDiv, sp, 'funnel-referral', 'ref', 'funnel_referral', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-a', 'a', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-c', 'c', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-o', 'o', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-oc', 'oc', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-e', 'e', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-f', 'f', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-r', 'r', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-t', 't', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-s1', 's1', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-s2', 's2', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-s3', 's3', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-s4', 's4', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-s5', 's5', ''); var error_message = getCookieValue('funnel_error_message'); if (error_message && error_message.trim() != '') { var error = wrappingDiv.getElementsByClassName('funnel-error')[0]; var prev_email = getCookieValue('funnel_email'); error_message = prev_email + " is not valid. Please try again"; error.innerHTML = error_message; error.style = ''; } }); if (false) { initCaptchaFormV2(); } } function initCaptchaFormV2() { var v3RecaptchaResponseEl = document.getElementById('recaptcha-response-v3'); v3RecaptchaResponseEl.parentNode.removeChild(v3RecaptchaResponseEl); var wrappingDiv = document.getElementById('main-signup-form'); var subForm = wrappingDiv.getElementsByClassName('email-submission')[0]; var captchaVersion = document.createElement('input'); captchaVersion.class = 'g-recaptcha hidden-input'; captchaVersion.type = 'hidden'; captchaVersion.name = 'g-recaptcha-response-v2'; captchaVersion.value = 'true'; subForm.appendChild(captchaVersion); var captchaEl = document.createElement('div'); captchaEl.id = 'verify-your-humanity'; subForm.appendChild(captchaEl); var captchaApiScriptEl = document.createElement('script'); captchaApiScriptEl.src = 'https://www.recaptcha.net/recaptcha/api.js?onload=onloadCallback&render=explicit'; captchaApiScriptEl.async = true; captchaApiScriptEl.defer = true; document.head.appendChild(captchaApiScriptEl); } function appendCheckboxes() { var optInDivs = document.querySelectorAll('.trends-opt-in'); optInDivs.forEach(el => { if (el.getElementsByClassName('trends-opt-in-checkbox').length < 1) { var checkbox = document.createElement('input'); checkbox.setAttribute('class', 'trends-opt-in-checkbox'); checkbox.setAttribute('type', 'checkbox'); checkbox.setAttribute('name', 'trends_opt_in'); var label = document.createElement('label'); label.setAttribute('class', 'trends-opt-in-text'); label.textContent = "Yes, I'd like to receive updates on market opportunities before they explode from Trends by The Hustle"; el.appendChild(checkbox); el.appendChild(label); checkbox.click(); } }) } window.addEventListener('DOMContentLoaded', (event) => { var funnel_email_cookie = getCookieValue('funnel_email'); if ( (true) && (funnel_email_cookie != null && funnel_email_cookie != '') ) { window.location.replace('/home'); } initForm(); if (true) { appendCheckboxes(); } }); </script> <div class="email-signup" id=main-signup-form> <div class="funnel-error" style="display:none;"></div> <form class="email-submission" action="https://cms.thehustle.co/api/v1/contacts/wordpress_create" method="post" autocomplete="email"> <div class="email-form-wrap"> <input class="funnel-source hidden-input" type="hidden" name="source" value="thehustleco"> <input class="funnel-campaign hidden-input" type="hidden" name="campaign" value="home"> <input class="funnel-medium hidden-input" type="hidden" name="medium" value=""> <input class="funnel-referral hidden-input" type="hidden" name="referral_code"> <input class="funnel-fail-url hidden-input" type="hidden" name="fail_url" value=""> <input class="funnel-a hidden-input" type="hidden" name="a" value=""> <input class="funnel-c hidden-input" type="hidden" name="c" value=""> <input class="funnel-o hidden-input" type="hidden" name="o" value=""> <input class="funnel-oc hidden-input" type="hidden" name="oc" value=""> <input class="funnel-e hidden-input" type="hidden" name="e" value=""> <input class="funnel-f hidden-input" type="hidden" name="f" value=""> <input class="funnel-r hidden-input" type="hidden" name="r" value=""> <input class="funnel-t hidden-input" type="hidden" name="t" value=""> <input class="funnel-s1 hidden-input" type="hidden" name="s1" value=""> <input class="funnel-s2 hidden-input" type="hidden" name="s2" value=""> <input class="funnel-s3 hidden-input" type="hidden" name="s3" value=""> <input class="funnel-s4 hidden-input" type="hidden" name="s4" value=""> <input class="funnel-s5 hidden-input" type="hidden" name="s5" value=""> <input class="funnel-success-url hidden-input" type="hidden" name="success_url" value="https://thehustle.co/signup"> <input id="recaptcha-response-v3" class="g-recaptcha hidden-input" type="hidden" name="g-recaptcha-response" value=""> <input class="signup-email" type="email" name="email" placeholder="Your email address" required autocomplete="email"> <input class="email-submit" type="submit" value="Join Free"> </div> <div class="trends-opt-in"></div> <div submit-success> <template type="amp-mustache"> <p class="c-message c-message--success">Thank you for subscribing.</p> </template> </div> <div submit-error> <template type="amp-mustache"> <p class="c-message c-message--failed">Your submission failed. Please try again!</p> </template> </div> </form> </div>