In response to the recent intensified anti-monopoly crackdown, Google CEO Sundar Pichai said in an interview with the Financial Times-“Regulations can sometimes be wrong!”
Last week, the European Commission New regulations have been formulated to curb the brutal growth of tech giants. In order to promote competition and transparency of technology companies, the Digital Services Act will force Google and other technology giants to publish their ranking algorithms and supervise content on their own platforms. Violators will be fined 6-10% of their global annual turnover.
During the interview, Sundar Pichai was quite cautious about this new EU regulation, and believed that all parties must carefully consider the importance and correctness of related policies. He also issued a warning that the government should follow some important principles.
“Even if technology companies can design a very open ecosystem, the other side of the coin may bring greater security risks. In addition, take the General Data Protection Regulation (GDPR) launched two years ago as an example. It failed to break the monopoly of large-scale technology.”
Sundar Pichai added: “This shows that in many things, the difference in answers is quite subtle, and the regulatory level may confuse it to error.”
It is reported that the original intention of the EU’s GDPR privacy bill is to protect the personal data and privacy of EU citizens. But this also makes it more difficult for third parties to collect personal information (such as positioning data), which has a huge impact on industries such as personalized advertising.
However, compared with small businesses, Google has a more direct and inextricable relationship with consumers. Tech giants can easily obtain permission from users to use their personal data, which has resulted in a greater concentration of power. Finally, in addition to expressing strong opposition to the EU’s new regulations in the Digital Services Act, Google is currently facing antitrust lawsuits from the US Department of Justice and the Federal Trade Commission.
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