The Internet Association, which was once one of the top lobbying shops for the tech industry and represented companies such as Microsoft, Google, Facebook, and Amazon, announced on Wednesday that it will shut down in response to financial problems.
Microsoft and Uber recently left the association, which put a financial strain on the organization and put pressure on other member companies to provide more funding or consider leaving.
The association fought for years on behalf of the Big Tech giants and other internet companies to promote limited government regulations and pro-tech policies.
“Our industry has undergone tremendous growth and change since the Internet Association was formed almost 10 years ago, and in line with this evolution, the Board has made the difficult decision to close the organization at the end of this year," the Internet Association’s board of directors said in a statement.
BREAKING UP BIG TECH WOULD ADDRESS CONSERVATIVE FEARS OF BIAS, TOP DEMOCRAT SAYS
The association, which began in 2012, pushed to preserve Section 230 of the 1996 Communications Decency Act, a controversial law that gives online platforms legal immunity for user-generated content on their websites.
It mostly did not work on issues related to antitrust and allegations of monopolistic behavior that many of its members are now dealing with thanks to new antitrust legislation in Congress and investigations into their behavior by the federal government.
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"What was once a leading voice for tech companies is fading into obscurity with barely a whimper and hardly anything to show for itself," one former association employee told Axios.