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(1/N) #ecoreset
Could we use this unprecedented global lockdown to reset some parts of the economy that have not been working properly?
I am going to talk about the parts I know something about: dominant firms, notably Google, Facebook and co.
Could we use this unprecedented global lockdown to reset some parts of the economy that have not been working properly?
I am going to talk about the parts I know something about: dominant firms, notably Google, Facebook and co.
(2/N) The basic theory for their dominance is:
(i) Once upon a time they were good, efficient and innovative. They even respected our privacy.
(ii) Not anymore, but their dominance is entrenched by heavy lobbying and network effects.
(i) Once upon a time they were good, efficient and innovative. They even respected our privacy.
(ii) Not anymore, but their dominance is entrenched by heavy lobbying and network effects.
(3/N) They lobby aggressively against any regulation that would meaningfully prevent them from mining private data and being held responsible for their products. Like a car company who would convince regulators they are not liable for faulty breaks. So far they have succeeded.
