Parler sues Amazon for antitrust violation

Yahoo Finance’s Alexis Christoforous and Jared Blikre discuss why Parler is suing Amazon.

Video Transcript

ALEXIS CHRISTOFOROUS: Tech stocks taking it on the chin as investors brace for Congress to regulate some of its biggest players. Facebook and Twitter, we know, have permanently banned President Trump from their platforms. We also have Apple, Alphabet's Google, and Amazon slashing their support for the conservative social media app Parler. And in fact, just moments ago Parler sued Amazon for kicking it off its servers.

We've got Jared Blikre joining us now for more on this developing story. Jared?

JARED BLIKRE: That's right. And you recounted those details very well. Parler went dark overnight. That was Pacific time midnight when Amazon did yank its support, because the website does run on Amazon Web Services servers now. And this comes after Apple and also Google had removed the app from their stores. And the Parler CEO, John Matze said this is a coordinated attack by the tech giants to kill competition in the marketplace.

But they do have what they call jurors. So in response to Amazon asking that they moderate more of their content, they said they have doubled their juror size to more than 1,000, instructed them to use popular search-- excuse me, search popular hashtags for incitement. And this is a more proactive approach, but apparently not enough. So yes, Parler is suing back. They're looking for new DNS services. But as of right now-- and I just checked-- parler.com is dark.