Wednesday’s congressional antitrust hearing convened the CEOs of four tech industry titans: Apple, Amazon, Google, and Facebook. And during their testimonies, each CEO was firmly committed to downplaying the size of his respective corporate behemoth.
Including Apple CEO Tim Cook, who would like to remind you that Apple is, in fact, not market dominant.
In his opening statement, Cook said, “We also know that customers have a lot of choices, and that our products face fierce competition. Companies like Samsung, LG, Huawei, Google have built successful businesses with different approaches. We’re okay with that. Our goal is the best, not the most. In fact, we don’t have a dominant share in any market or any product category where we do business.”
While likely true—as of June 2020, StatCounter reports that Samsung has the largest share of the mobile vendor market with 31%, followed by Apple with 25%—the statement doesn’t quite capture the essence of Apple’s $1.3 trillion market valuation.
Also quick to minimize the scale of his company was Facebook CEO Mark Zuckerberg, who used his opening statement to point out that “in many areas, we are behind our competitors” who have “hundreds of millions, or billions, of users.” Those competitors, Zuckerberg pointed out, include fellow witnesses Apple, Amazon, and Google—all of which Zuckerberg name-checked for operating dominant platforms for messaging, video, and advertising.