Regulating Technology Firms in the 21st Century - Yang2020 - Andrew Yang for President

“Big Tech companies are the winners of the 21st century economy. They’ve amassed too much power, largely profiting from our personal data, and unaccountable responsibility—we have reached a point where the government needs to step in. And we’re starting to take notice, with about 50% of US adults1 favoring more regulation on tech firms. These companies themselves are asking for regulation (until you propose specifics).

Unfortunately, our government is unequipped to handle it. We dissolved the Office of Technology Assessment in 19952. Recent hearings3 with tech CEOs like Mark Zuckerberg exposed the lack of basic understanding of technology by members of our Congress.

Digital giants such as Facebook, Amazon, Google, and Apple have scale and power that renders them more quasi-sovereign states than conventional companies. They’re making decisions on rights that government usually makes, like speech and safety. Their business models are predicated on keeping people engaged, driven by algorithms that are supercharged by technology to predict our behavior, such as artificial intelligence and machine learning, and that feed off of our data, creating an increasing asymmetry of power without any accountability.”

Regulating Technology Firms in the 21st Century - Yang2020 - Andrew Yang for President
https://www.yang2020.com/blog/regulating-technology-firms-in-the-21st-century/
via Instapaper