On Wednesday, Representative David Cicilline, Democrat of Rhode Island and chairman of the House Judiciary Committee’s antitrust subcommittee, opened a half-virtual hearing on “Online Platforms and Market Power” with a combative opening statement: “Our founders would not bow before a king. Nor should we bow before the emperors of the online economy.”
That set the tone for the hours of sharp questioning of four of the wealthiest people on the planet: Jeff Bezos of Amazon, Tim Cook of Apple, Sundar Pichai of Google and Mark Zuckerberg of Facebook, whose companies have a combined market value roughly equivalent to the G.D.P. of Japan.… Seguir leyendo »
Tech regulation may be the only thing on which a polarized Capitol Hill can agree. “We should be suing Google and Facebook and all that, and perhaps we will,” President Trump recently declared. Senator Elizabeth Warren, a Democratic presidential candidate, has made the breakup of tech companies a central plank of her campaign. Even Silicon Valley-friendly contenders like Pete Buttigieg have called for curbs on the industry’s power.
If Americans buy into the idea that the tech industry is an entrepreneurial, free-market miracle in which government played little part, then the prospect of stricter regulation is ominous. But that isn’t what actually happened.… Seguir leyendo »