Tuesday, July 24, 2018

Regulations like GDPR will make Big Tech stronger -- Quartz

From a timely regulation reality check
"In the early 2000s, Microsoft and their illegal monopoly was the specter that loomed over every discussion of the personal-computing market. But notice how distant these concerns seem given the emergence of the mobile-phone market—a market that was blown wide open by a mid-sized tech company that invented a disruptive handheld device called the iPhone. Similarly, recall how file-sharing and torrent sites were the crisis du jour of the late 1990s. It wasn’t the giant fines slapped on Napster that ended the mainstream practice of file sharing: Instead, it was the emergence of streaming companies like Spotify that made paying for music a superior experience to illegal downloads.
Neither of these innovations could have been foreseen by regulators, but they could have been stunted before they even had a chance to thrive. This is often the problem with drastic regulatory overhauls: While it’s easy to imagine how new laws will affect existing companies, their biggest victims are the invisible ones who never have a chance to get started in the first place. Because regulations that increase overhead for new companies have the potential to stifle innovation for decades into the future, such laws must be enacted with care."
Regulations like GDPR will make Big Tech stronger --  Quartz

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