Break Up the Tech Giants? No, Just Level the Field | Bloomberg

Break Up the Tech Giants? No, Just Level the Field; Leonid Bershidsky; In Bloomberg View; 2017-09-11.
Teaser: Facebook, Google and Uber should be held to the same rules as their older rivals.

tl;dr → regulate them, just like every other industry
and → besides the real question is about tax obligations, the taxes are not being paid.

Question → <quote>How can these benign, universally loved innovators be stopped from turning into evil, soulless corporate behemoths? </quote>
Answer → regulate them (a.k.a. “mend it, don’t end it”).

Mentions

  • United States
  • European Union (EU)
  • Facebook
  • Google
  • search market share
  • Amazon
  • presidential campaign
  • fake accounts
  • Russia
  • Whole Foods, of Amazon
  • Facebook
  • Google
  • Amazon
  • Barry Lynn
  • New America Foundation
  • Open Markets (program)
  • Eric Schmidt
  • “hipster antitrust,” attributed to Joshua Wright, from a tweet
    Joshua Wright, is professor of law, George Mason University.
  • Margrethe Vestager, antitrust commissioner, The European Union.
  • Amazon
  • Uber, a taxi company
  • Airbnb, is a hospitality company
  • “platforms”
  • eBay
  • an Indian law
    requires 100 percent foreign ownership of companies that operate mainly as a marketplace, with no more than 25 percent of their sales coming from one vendor, such as the company itself
  • the mantle of innovation

Quotes

<quote>It shouldn’t be allowed to “tech” companies either; otherwise, the playing field is not level and older rivals have less resources to invest in new technology to compete more effectively.
This is not really about antitrust, though state aid laws in Europe are the purview of competition authorities; this is about closing obvious, well-known tax loopholes.</quote>

Epithets

  • tech giants
  • tech leaders
  • these U.S. behemoths
  • a Caribbean shell company holding the rights to a distribution scheme or an ad-selling technique.

Referenced

Previously

In Bloomberg View

In Bloomberg

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