Posted by Bloomberg
Google and Facebook’s Next Big Fight
By Lionel Laurent
For many people, it probably sounds a little rich to hear the European Union accuse Silicon Valley of being a graveyard of innovation. But that’s where we are in 2019. Regulators are hitting the likes of Alphabet Inc.’s Google and Facebook Inc. with a flurry of antitrust fines and data-privacy probes, implying that they regard tech billionaires as more John D. Rockefeller than Nikola Tesla.
The end-game, according to Brussels’ top data watchdog, is to make sure new startups aren’t blown out of the water by Big Tech (or gobbled up), which should ultimately benefit consumers by allowing them more choice.
Tackling this so-called “kill zone,” where fledgling tech companies are acquired or copied out of existence by deep-pocketed incumbents, is a prime ambition for European Data Protection Supervisor Giovanni Buttarelli, nicknamed “Mr GDPR” after the data-privacy law. When I met him in Brussels recently, Buttarelli checked off the barriers to entry for a startup: It needs to first outbid the likes of Amazon.com Inc., Facebook and others for engineering talent; then sell its product through an app store probably run by Google or Apple Inc.; and finally compete against big players with established networks and huge cash piles. And even it clears all these hurdles, it’s still vulnerable to being taken out.
Featured News
Advance Auto Parts to Offload Worldpac for $1.5 Billion
Aug 22, 2024 by
CPI
Bronfman Ups Ante to $6 Billion in Paramount Battle, Skydance Deal at Risk
Aug 22, 2024 by
CPI
Google and California Strike Historic Deal to Fund Newsrooms Amid Controversy
Aug 22, 2024 by
CPI
Apple Overhauls EU Software to Comply with New Regulations
Aug 22, 2024 by
CPI
Appeals Court Revives D.C.’s Antitrust Lawsuit Against Amazon
Aug 22, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – State Attorneys General
Aug 22, 2024 by
CPI
CPI Talks… …With Attorney General Phil Weiser
Aug 22, 2024 by
CPI
The Bipartisan Miracle of State Antitrust Enforcement
Aug 22, 2024 by
Gwendolyn J. Lindsay Cooley
Recent Developments in State Antitrust Enforcement: Agriculture and Food Markets
Aug 22, 2024 by
Elizabeth R. Odette
State Attorneys General: Stewards of Consumer Health and Welfare
Aug 22, 2024 by
Brooke Howlett Lovrovich