Why we can never put the Big Tech monster back in its box: Don Pittis
There is no doubt that Facebook, Google and the rest have changed the world, and of course, Congress can not reverse it.
That’s right, clearly now that the giants of Big Four technology (Facebook, Google, Amazon, and Apple) have swallowed whole industries, stepping on the smoking ruins of advertising, retail, music and news industries, The politicians of the world try to turn back the clock.
In fact, it has been said that the empty seats behind the nameplates for Facebook executives, Mark Zuckerberg, and Sheryl Sandberg, during the recent hearings in Ottawa were a clear demonstration that the Canadian Parliament, even when backed by the support of international legislators, does not have the power to shoot to subdue the digital economy. However, it should be noted that, even as politicians from both sides of Congress come together this week, it is almost impossible to imagine that even the total power of the US government can do much to subdue the industries built in an interconnected era.
Clearly complex situation
It should be noted that, in economics, the main concern of monopolies is that they can charge higher prices than in a competitive market since consumers have no alternative to that sole provider. But in his comprehensive speech, the antitrust chief of the Justice Department said that monopoly power has nothing to do with price. Amazon, for example, can offer the cheapest prices and remain a monopoly. Google or Facebook can offer services for free, thus preventing others from competing.
In its quest to eliminate the monopolies of the digital guardian, Congress can face a series of insurmountable problems.
And one is the speed with which technology is transformed. Since any new rule by the laborious legislative and judicial process could fail to catch up with an industry that has already advanced.
In this way, a related problem is a complexity created by the digital connection. Problems such as security and privacy, which occupy a prominent place on the agenda of the Congress, are not something that can be solved once and for all.
Clearly, in a world where the Phoenix payment system cannot print an accurate check after years of attempts, governments may fear to break up powerful companies that can do things right.
Source: Don Pittis | CBC News