A common refrain—and effective defense—from tech companies at the House Judiciary hearing this week was that rather than stifling competition, their size and scope is responsible for a tide that raises all boats in their wake.
Adam Cohen, director of economic policy at Google, argued that, when it comes to the tech sector as a whole, there is record-setting venture capital activity, with over 8,000 venture-backed companies raising more than $130 billion in financing last year—the highest amount in more than a decade. Similarly, the technology sector has had one of the highest rates of business formation and job creation in the country during the past three decades.
