Despite the tech industry’s apparent influence during the transition period leading up to President Joe Biden’s inauguration, recent developments and appointments hint that his administration will be tougher on the sector than its predecessors.
After Donald Trump railed against Amazon’s “monopoly,” social media platforms for censorship, and other tech-related issues, many are left wondering whether Biden’s stance towards Silicon Valley will be similar.
The Debate on Biden’s Stance Towards Silicon Valley
As of now, there are two camps in regard to the new president’s stance on tech: those who argue for stricter policies and measures, and those who remain optimistic about a friendlier relationship between the government and Silicon Valley.
On one hand, there is hope from those in favor of tighter regulation when it comes to big Tech companies like Google, Apple, Facebook, Amazon, and others.
These people cite data privacy laws that have recently been established in the U.S., such as California’s Consumer Protection Act (CCPA), which gives users more control over how companies use their personal data.
Additionally, they point to recent antitrust lawsuits brought against major tech companies by the Department of Justice (DoJ) as evidence that regulators are willing to take a harder line against industry giants accused of anticompetitive behavior.
In addition to these regulations and lawsuits, some experts suggest that President Biden could also impose harsher fines for companies violating existing rules or introducing new ones.
Furthermore, some argue that he should break up large conglomerates such as Facebook or Amazon into smaller entities in order to promote competition within their respective markets.
A Friendlier Relationship Between Government & Big Tech?
During Trump’s time in office, he had a contentious relationship with Silicon Valley – often accusing major technology companies like Google or Twitter of being biased against conservatives.
In contrast with this approach, many believe that President Biden will take a softer stance when it comes to regulating Big Tech due to his close ties with venture capitalists from California as well as long-standing relationships with leaders from major technology firms such as Microsoft CEO Satya Nadella.
Additionally, some tech executives have welcomed his appointment since they expect him to push for an even more open environment for innovation in the U.S., which would potentially benefit their businesses if implemented successfully.
For instance, Joe Greenstein (co-founder of Flixster) has spoken positively about how Biden could re-energize innovation if he succeeds in getting legislation passed on topics such as Family Leave Insurance or Immigration Reform while also providing tax breaks for entrepreneurs looking to start up small businesses.
What Will Happen Next?
It is still too early to tell exactly what kind of impact President Joe Biden will have on Silicon Valley but one thing is certain: policymakers across both sides of the aisle are expecting increased scrutiny when it comes to regulating Big Tech Companies especially after witnessing the negative consequences caused by monopolistic behavior exhibited by large corporations during Donald Trump’s presidency.
Only time will tell if these expectations become reality under Joe Biden’s watch but regardless every policymaker involved should ensure that all stakeholders -from consumers all the way up to shareholders -are taken into account before implementing any drastic changes going forward.
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