US Social Media Companies: More Financial Brutality Coming?
September 23, 2020
DarkCyber spotted “EU Could Shut Misbehaving Tech Firms Out of Single Market.” The write up concerns the European regulators’ Digital Services Act, 2020 edition. The article reports:
The bill would increase the responsibilities and liabilities of tech companies, particularly regarding content on social media platforms. Breton said that EU regulators are preparing a list of activities that tech companies would be required to eliminate. It may also establish a rating system which allow the public and shareholders to score companies on factors such as tax compliance and – for online platforms – how quickly they remove illegal content. Under these proposals, tech companies may be forced to break up or sell some of their European operations if their market dominance is judged to be a threat to the interests of consumers and competitors.
There are precedents. The Great Firewall of China and the exclusionary actions directed at US technology companies. The American attempts to shut down or co-opt TikTok and WeChat. The Indian government’s aggressive stance toward Chinese apps. Russian actions, including the preferential deal with Telegram, a messaging service.
Observations:
- American technology companies are the target of these legal machinations
- Fragmentation of online services seems to be a response to decades of flawed regulation
- Tax revenues may lead to deals, which may do little to address the impact of non-intermediated content flows.
Stephen E Arnold, September 23, 2020
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