News: Sen. Elizabeth Warren wants to build a new agency to police Big Tech
News: Sen. Elizabeth Warren wants to build a new agency to police Big Tech
Sen. Elizabeth Warren has already helped create independent agencies.
The bill, sponsored by Sens. Elizabeth Warren (D-MA) and Lindsey Graham (R-SC), would create a new agency called the Digital Consumer Protection Commission that would be empowered to go after giant tech firms for a slew of anti-competitive behaviors and failing to protect consumer privacy.
Pointless unless:
The agency has authority
The agency can enforce that authority
The agency can levy fines and other deterrents significant enough to make tech companies fear #1 and #2.
Otherwise it’s just another agency that will face regulatory capture and dole out slaps on the wrist that Big Tech can effectively ignore.
...and is properly funded.
I don't trust a bunch of crusty trust fund relics to regulate anything. You have to actually understand the technology to not make an absolute shit show of it, and they don't.
The alternative is trusting a bunch of billionaire tech sharks to police themselves swimming with us seals.
I empathize with your sentiment, but what's the alternative?
Seems like Big Tech wins no matter what happens. One way you have regulatory capture, the other you have private regulatory.
Strange bedfellows. Although I suspect Lindsey Graham is used to that by now.
The SEC does such an amazing job reigning in banks and wall street, I'm sure it'll be a raging success
The answer to a dysfunctional government is not dismantling government, but replacing it with a functional government.
Replace it with an anarchy government!
So, look at the failures of the SEC and avoid those problems.
What will happen is the same as the SEC, but the opportunity to learn exists.