Europe Is Breaking Open the Empires of Big Tech
Europe Is Breaking Open the Empires of Big Tech
Tech giants have to comply with a new EU law that is set to change the internet. It aims to force open the biggest platforms to encourage competition and give users more choice in their digital lives.
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I think Europe can't compete with the US tech firms because of many reasons so that is why they are doing it.
Not the monopolies they hold over the tech industry.
Or the fact they simultaneously hold more wealth than a small country, yet pay miniscule amounts of tax.
Or the detriment to society they influence, both directly and indirectly.
Or the fact they're intrusive ways to scrape our lives, and selling that data to thousands of "partners".
No no... Apparently it's jealousy that's driving the EU, rather than making them accountable.
Does the DMA actually do anything about that, except weakening monopolies?
Why would/should it? It serves a specific purpose, just like the GDPR serves a specific purpose and covers another of OPs points.
It's the topic of the thread, so I thought... FWIW I'm not sure that the GDPR really does what people hope, but that's a different topic.
The GDPR does more than any other regulation out there. The world is definitely better for it. Could we do more? Sure, and the DSA is an attempt at that. Could we do it even better? Of course. We pay the bureaucrats in Brussels for a reason, they will come up with something.
I agree that they're not able to compete, but I'm pretty sure they aren't doing it out of spite. I think they just see it as a big, monopolistic market that needs opening to competition (they have taken similar steps in other sectors as well, btw)
Spotify, booking.com, Skype (formerly), Klarna, and Zalando are some examples of large European tech companies. Zalando has been trying to challenge the DSA, actually. But yeah, the majority of the largest tech companies are US based.
Also SAP
You do know Europe has it's own stock market with hundreds of fin and big techs?
Well ofc. But the reason I've heard for why we never have the likes of Google/Meta/Apple etc. is because our market is very fractured compared to the US
The reason is more that EU antitrust regulations still have some bite, and they don't let monopolies like Big Tech form. Also, there is less of a concentration of VC money since the economy at large is less financialized. Fewer firms are public, there is no equivalent of Wall Street.
Whether that's good or bad, I'll leave that up to everyone's conscience.
Europe has a Wall Street, it just happens to be the City of London.
Not many of these big companies are listed there though.
At least less than the US.
EU doesn't have any big tech, i.e. tech companies the size and power of Google/Amazon/Meta/Microsoft/Apple.
Oh sorry. I forgot you made the goal posts so that only you can be right. Fucking hell.....
OK, give my the name of a European company you consider "Big Tech?"
I'm sure you have a definition of your own. So I'll cast a wide web to see what sticks for you.
ASML, ADYEN, NXP, NOKIA, SAP, DASSAULT, BAT, Spotify, LOGI
And yes, I know these don't hold a candle to the Mag7 of America.....
I think this must be the new dumbest comment on Lemmy. congratulations on being it.
It certainly helps that there isn't big money lobbying against this, so I don't think you deserve these downvotes.
But this is very much an expression of the neoliberal ideology that the EU has in its DNA. The opposition to monopolies is one positive aspect.
There is big money lobbying against this, and the AI act, and every other EU regulation.
US firms care if they can make money in the EU and actively lobby to change legislation.
The US would like to do the same, but they can't