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WATCH: Facebook’s Zuckerberg delivers opening statement to lawmakers as part of Judiciary tech probe

Facebook co-founder Mark Zuckerberg told the House Judiciary Committee that he values the role strong competition plays in making Facebook more successful.

“Our story would not have been possible without U.S. laws that encourage competition and innovation,” Zuckerberg said in a prepared statement. “At Facebook, we compete hard, because we’re up against other smart and innovative companies that are determined to win.” He later added that he encourages regulators to continue updating rules for internet companies in an effort to address concerns about the power of tech companies.

The House Judiciary Committee is hearing testimony from Zuckerberg, Google’s Sundar Pichai, Amazon’s Jeff Bezos and Apple’s Tim Cook as part of a yearlong investigation of Big Tech’s market dominance and treatment of competitors. The Judiciary panel has collected testimony from mid-level executives of the four firms, competitors and legal experts, but Wednesday’s hearing is the first time the four chief executives have testified jointly before Congress and the first ever testimony for Bezos.

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