Let’s start with regulation today, which will set the stage for the day.
The EU has proposed significant new rules on Big Tech in the Digital Services Act, which requires online intermediaries to act more swiftly against illegal content and provide users with transparency on their actions. The Act also restricts large companies, which are being labeled “gatekeepers”, from engaging in anti-competitive behaviors.
In the US, the FTC has ordered Amazon, Facebook, TikTok via ByteDance, Discord, Facebook, Twitter, Snap, Reddit, and YouTube to share information on how they collect and use data from their users. The companies have 45 days to respond, and the agency is using its powers under Section 6b of the FTC Act, which allows broad studies separate from law enforcement.
Why do we care?
The changing climate, that’s why we care. This is the macro trend playing out, and the way it will happen.
For smaller companies, play this out. You’re a local policy maker, and you are dealing with the cybersecurity threats in your communities and against your businesses. You now have both air cover and public interest based on what is happening at the macro level… and you can move with popular support. And that’s why we care.