While tech companies that start out in America tend to see a really rosy rise to the top, they often face a few hurdles in European markets. European governments often impose restrictions on major tech companies like Google because of the fact that this is the sort of thing that could potentially end up preventing these companies from infringing on the privacies of European citizens. With all of that having been said and now out of the way, it is important to note that major tech companies such as Google, Microsoft and Facebook are spending millions of dollars a year to try and change these rules through lobbying efforts and the like.
This is something that can cause a lot of problems down the line with all things having been considered and taken into account. A study by Corporate Europe Observatory revealed that a total of 97 million euros is spent every year by around 612 companies. About 16% of this money is spent by just 3 companies, namely Microsoft, Facebook and Google. When you take into account the fact that Apple and Amazon are spending over 3 million euros a year each, it becomes clear that American corporations are trying to subvert the European legal system whenever they can.
This is being done in order to prevent regulations that are going to make it difficult for these companies to remain as profitable as they are. While the corporations do need profit in order to keep moving forward, this should not come at the expense of the consumer. Regulations need to be put into place to limit this lobbying because 5 companies representing 20% of all lobbying spending is a huge unbalance that will cause even greater problems in the future. This is something that needs to be addressed as quickly as possible before it gets out of hand.
Read next: Apple Employees Claim Their Employer Doesn’t Respect Their Privacy
This is something that can cause a lot of problems down the line with all things having been considered and taken into account. A study by Corporate Europe Observatory revealed that a total of 97 million euros is spent every year by around 612 companies. About 16% of this money is spent by just 3 companies, namely Microsoft, Facebook and Google. When you take into account the fact that Apple and Amazon are spending over 3 million euros a year each, it becomes clear that American corporations are trying to subvert the European legal system whenever they can.
This is being done in order to prevent regulations that are going to make it difficult for these companies to remain as profitable as they are. While the corporations do need profit in order to keep moving forward, this should not come at the expense of the consumer. Regulations need to be put into place to limit this lobbying because 5 companies representing 20% of all lobbying spending is a huge unbalance that will cause even greater problems in the future. This is something that needs to be addressed as quickly as possible before it gets out of hand.
Report shows that the tech industry is now the biggest lobbyist in Brussels. (Spending €97M per annum) @corporateeurope & @lobbyctrl_techhttps://t.co/Xgl93eKGu4 pic.twitter.com/WZZUbZ4OiM
— Johnny Ryan (@johnnyryan) August 31, 2021
Read next: Apple Employees Claim Their Employer Doesn’t Respect Their Privacy
