A major problem that the world is facing right now has to do with the fact that tech companies have become a bit too powerful, because of the fact that this is the sort of thing that could potentially end up allowing tech corporations to have too high of an influence on the world around them.
With all of that having been said and now out of the way, it is important to note that a lot of bills have been introduced by the US senate, and while none of them have managed to become laws there is still a consensus among lawmakers that something or the other needs to be done.
One new bill that is being seen in the Senate seeks to prevent tech companies from favoring and promoting their own products on their platforms. A big example of this is Amazon, since the Indian branch of the massive ecommerce company has recently been accused of promoting its own line of products and pushing products made by other businesses lower in the search rankings.
Facebook is also an example of this since the social media platform often tries to create an enclosed ecosystem that would make it so that its users would only ever stay on that platform rather than going anywhere else, and businesses often end up becoming too reliant on Facebook due to this.
A lot of major tech companies like Spotify are in favor of this, since it will increase competitiveness. It is absolutely essential that tech companies be prevented from using their influence to stifle competition, since this is the sort of thing that is not in the spirit of capitalism with all things having been considered and taken into account. Lawmakers need to act quickly before the power of tech companies starts to become unassailable in the long run.
Photo: shutterstock
H/T: Reuters.
Read next: The Chinese Government Is Considering Making Content From Local Corporations Accessible By Rivals
With all of that having been said and now out of the way, it is important to note that a lot of bills have been introduced by the US senate, and while none of them have managed to become laws there is still a consensus among lawmakers that something or the other needs to be done.
One new bill that is being seen in the Senate seeks to prevent tech companies from favoring and promoting their own products on their platforms. A big example of this is Amazon, since the Indian branch of the massive ecommerce company has recently been accused of promoting its own line of products and pushing products made by other businesses lower in the search rankings.
Facebook is also an example of this since the social media platform often tries to create an enclosed ecosystem that would make it so that its users would only ever stay on that platform rather than going anywhere else, and businesses often end up becoming too reliant on Facebook due to this.
A lot of major tech companies like Spotify are in favor of this, since it will increase competitiveness. It is absolutely essential that tech companies be prevented from using their influence to stifle competition, since this is the sort of thing that is not in the spirit of capitalism with all things having been considered and taken into account. Lawmakers need to act quickly before the power of tech companies starts to become unassailable in the long run.
H/T: Reuters.
Read next: The Chinese Government Is Considering Making Content From Local Corporations Accessible By Rivals