WASHINGTON – Big tech companies are betting on new management and control of their businesses with a time-tested strategy: open their pocketbooks.
Facebook Inc. and Amazon. com Inc. led all other U.S. companies in federal pressure spending last year, according to a Wall Street Journal analysis of the most recent disclosures. It was the second year in a row that they surpassed all other companies, including long-established ones like AT&T Inc. and Boeing Co.
Facebook, which faces federal and state antitrust lawsuits, as well as a series of hearings convening CEO Mark Zuckerberg in Washington, spent about $ 20 million in 2020, 18% more than the previous year.
Amazon, which saw CEO Jeff Bezos testify before Congress for the first time and continued to push to expand its business as a government contractor, spent about $ 18 million last year, 11% more than 2019.
“We have been clear that the Internet needs up-to-date regulations, which is why we will continue to express our support for the new rules that address current online realities,” a Facebook spokesman said.