Big Tech Flashcards
What does elizabeth warren say about big tech
Time that we pick up the anti trust stick again
What is a key political problem of big tech
Gaining significant power in the political landscape
Millions in lobbying dollars help shield big tech from scrutiny
Concentrated market power creates concentrated political power
What are the key problems of big tech
Monopoly power strips markets of their pricing mechanisms opening consumers up to significant exploitation
Google runs 2 thirds of online searches
Amazon sells 40% of new books
Google and Facebook are first stops for many seeking news
Make small improvements warranting new patents effectively making their IP semi permanent
Google and Apple spending more acquiring patents than R+D
Google buying one company a week
No incentive for start ups
Facebook generated 822.4 m but only paid 2.6 m tax
What are some suggested solutions
Big tech should be regulated by utilities in that their profit should not exceed the level a competitive market would allow
Uk tax forms on revenue
Income contingent loans
What does dayen (2017) say about big tech
The question is no longer whether we have a problem with big tech but what we’ll do about it
What does Dayen say about Europe
Been more effective than the US in regulating big tech
Fined google 2.7 billion for steering users to its shopping sites
Europe general data protection regulation allows users to opt out of data manipulation
What are the issues with gvt policy
Has in effect told these companies that the smart thing to do is to break the law because the repercussions are minute
Companies can monopolise the market without breaking monopoly laws
What does Dayen suggest as the solutions
Break them up
Place a moratorium on all acquisitions
How can the narrative of the state help solve big techs problems
Competition policy
Are big tech firms ahead of regulation
Is regulation required to be made in conjunction? - gov officials don’t understand the nature of facebooks business
Big tech amplifies risk of investing in small business
Reinvestment isn’t happening effectively
Does the government have to take more risk to support innovation
