Hitting the Books: US regulators are losing the fight against Big Tech
, argue passionately against the data-hoarding practices of today's biggest tech companies and call for a more open, equitable means of accessing the information that these companies have amassed. One such method, explored in the excerpt below, involves addressing Big Tech's monopoly power directly, as the Biden administration has in recent years, though the efforts have not been particularly effective.
Not just antitrust experts serving in government like Tim Wu and Lina Khan fear that the monopolistic structure of American tech dominance could turn into its Achilles heel. Think tanks and advocacy groups on both left and right have been joining the critics.
Despite renewed resolve by the Biden administration to get serious against Big Tech overreach, substantial change still seems elusive in the United States. In contrast, European antitrust authorities have been far more active. The billion-dollar fines lobbed at US Big Tech by Commissioner Vestager’s team surely sound impressive. But, as we mentioned, most of them were reduced on appeal to an amount that the superstar companies with huge cash reserves and skyrocketing profits could easily afford.
To tackle the structural advantage, we have to remember Schumpeter. Schumpeter’s nightmare was that the capacity for innovation would become concentrated within a few large companies. This would lead to a downward spiral of innovation, as major players have less incentive to be disruptive and far more reason to enjoy market power.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
The Fall of ‘Roe’ Would Put Big Tech in a BindAlphabet, Meta, and others collect heaps of user data that could be exploited by law enforcement—and create legal hazards.
Leer más »
Big Tech valuations are re-entering the real worldAmazon hit supply-chain snags. Netflix’s growth is slowing. Alphabet and Microsoft face wage inflation. The tech giants' price-to-earnings ratios are converging with industrials like Caterpillar. That makes sense: Minus recent euphoria, they're tools for everyone else's business.
Leer más »
WSJ News Exclusive | Chinese Tech Giants Quietly Retreat From Doing Business With RussiaFirms are pulling back under pressure from U.S. sanctions and suppliers, but stay mum in face of warnings from Beijing.
Leer más »
As Calls to Leave Russia Continue, Some U.S. Tech Firms Opt to StayBefore Russia invaded Ukraine, the country was an attractive source of tech talent. ‘We cannot abandon our team in Russia,’ says the CISO of U.S.-based bitcoin marketplace.
Leer más »
A’s suffer eighth straight loss as offense continues to be a big problemA’s have now scored one run or fewer in nine of their last 14 games.
Leer más »
Big 12 never seemed the fittest, yet Bob Bowlsby’s legacy is one of survivalFor all intents and purposes, the Big 12 spring meetings doubled as a farewell to commissioner Bob Bowlsby. He’s not exactly gone, not yet. Bowlsby remains on...
Leer más »