There is an urgent need to reign in the companies I call the “tech gorillas” like Facebook and Google. They use their size and sway to operate like sovereign powers beyond the authority of any government, including our own. But the tech industry would be making a huge mistake if we fail to innovate and self-regulate and instead force the federal government’s hand on regulation.
The regulatory state is totally overmatched when it comes to the tech gorillas. As the memorable 2018 exchange regarding Facebook’s business model between Mark Zuckerberg and an octogenarian U.S. Senator made clear, most members of Congress lack the technical expertise for effective legislation. That’s no surprise—technology is complex, fast-moving, and a language and culture all its own. Elected officials are well-intentioned, but we should no more expect them to navigate all the nuances of the tech industry than we should expect them to perform open heart surgery. As a result, the regulatory…
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Source : fastcompany.com
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