Entrepreneur

For Big Tech, Biden brings a new era | Business


By MARCY GORDON

AP Business Writer

WASHINGTON — The Obama-Biden administration was a charmed era for America’s tech companies — a moment when they were lionized as innovators, hailed as job creators and largely left alone.

Now Joe Biden is coming back, this time as president. But times have changed. The halcyon days of an adoring Washington are unlikely to return when Biden takes the oath of office in January, with mounting legislative and regulatory challenges to the industry — including stronger enforcement of antitrust laws — nearly certain to outlast the tenure of President Donald Trump.

“The techlash is in full force,” said Eric Goldman, a law professor at Santa Clara University and co-director of its High Tech Law Institute.

In the years since Barack Obama and Biden left the White House, the tech industry’s political fortunes have flipped. Facebook, Google, Amazon and Apple have come under scrutiny from Congress, federal regulators, state attorneys general and European authorities. Twitter has found itself in frequent run-ins with lawmakers over its policies for moderating content on its platform. And companies have seen their political support in Congress erode.

Lawmakers on both sides of the aisle champion stronger oversight of the industry, arguing its massive market power is out of control, crushing smaller competitors and endangering consumers’ privacy. They say the companies hide behind a legal shield to allow false information to flourish on their social media networks or to entrench bias.

In steps Biden, who may aim to take a bite out of the dominance of Big Tech and may welcome an opportunity to work with the opposing side to curb the power of a common adversary.

READ  Online education startup Udemy in talks to raise $100 mln in private funding -sources - Yahoo Finance

As a presidential contender, Biden said the breakup of big tech companies should be considered. Dismantling the tech giants is “something we should take a really hard look at,” he told The Associated Press in an interview. He said he wants to see quickly crimped the social media companies’ long-held legal protections for speech on their platforms. And he singled out Facebook CEO Mark Zuckerberg for scorn, calling him “a real problem.”

The Biden administration is also expected to press forward with the Trump Justice Department’s new antitrust lawsuit against Google, though its shape likely could be changed.



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.