Why Competition Is The Antidote To Big Tech's Bad Behavior, Not Politicians

If given a chance, the market will eventually provide solutions to many of the grievances stemming from Big Tech's clumsy efforts to control user content.

Since the start of 2021, debates about hosting sites, web services, and social media bans have drawn attention from all sides of the spectrum with some calling foul, citing free speech concerns, while others attest that it is simply warranted ownership control.

We have a love-hate relationship with technology that is confounded by ever evolving platforms, privacy concerns, and posting privileges. And those who recently rallied on Reddit are the latest instigators for attracting legislators.

Big Tech is a hot button issue, and prohibiting access is a big deal. But these companies have the right to do so, just as hedge funders shouldn’t be demonized for doing their jobs while rogue investors claim revolution.

As long as a company isn’t physically or forcefully harming another individual or their property, the ability to intervene is limited until new legislation is enacted, and we should be wary of calling for further government interference and be mindful that new laws can backfire. Regulatory decisions, even when meant to benefit the public, can impact future prospects and forms of competition within the marketplace.

Actually, the success of Big Tech could be attributed to minimal government interference early on (since you can’t control what you can’t understand… which may still be the case). Larry Downes, a business internet analyst and digital strategist claimed in a 2018 article featured in the Harvard Business Review that “The best regulator of technology… is simply more technology. And despite fears that channels are blocked, markets are locked up, and gatekeepers have closed networks that the next generation of entrepreneurs need to reach their audience, somehow they do it anyway — often embarrassingly fast, whether the presumed tyrant being deposed is a long-time incumbent or last year’s startup darling.”

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