Even though the tech industry seemed to have a lot of power during the time leading up to President Joe Biden’s inauguration, recent events and appointments suggest that his administration will be tougher on the sector than the ones before it.
After what Donald Trump said about Amazon’s “monopoly,” censorship on social media platforms, and other tech-related issues, many people are wondering if Biden will have the same attitude towards Silicon Valley.
The Talk about Biden’s Views on Silicon Valley
As of right now, there are two camps when it comes to the new president’s stance on tech: those who want stricter policies and measures and those who are still hopeful that the government and Silicon Valley can work together better.
People who want stricter rules for big tech companies like Google, Apple, Facebook, Amazon, and others are hopeful, on the one hand.
People who say this point to new privacy laws in the U.S., like California’s Consumer Protection Act (CCPA), which gives users more control over how companies use their personal information.
Also, they point to recent antitrust lawsuits brought by the Department of Justice (DoJ) against big tech companies as proof that regulators are willing to be tougher on industry giants who are accused of doing things that hurt competition.
Some experts say that in addition to these rules and lawsuits, President Biden could also fine companies more severely for breaking existing rules or making new ones.
Some people also say that he should break up big companies like Facebook or Amazon into smaller ones to increase competition in their respective markets.
A Friendlier Relationship Between Government & Big Tech?
During his time as president, Trump had a tense relationship with Silicon Valley. He often said that big tech companies like Google and Twitter were unfair to conservatives.
In contrast to this approach, many people think that President Biden will take a softer stance when it comes to regulating Big Tech. This is because he has close ties with venture capitalists from California and has known leaders from major technology companies, like Microsoft CEO Satya Nadella, for a long time.
Some tech executives have also been happy about his appointment because they think he will work for a more open environment for innovation in the U.S., which could be good for their businesses if it works.
Joe Greenstein, the co-founder of Flixster, has said that Biden could re-energize innovation if he is able to get laws passed on Family Leave Insurance or Immigration Reform while also giving tax breaks to entrepreneurs who want to start small businesses.
What’s going to happen?
It’s still too early to tell what kind of effect Vice President Joe Biden will have on Silicon Valley, but one thing is certain: policymakers on both sides of the aisle expect more scrutiny when it comes to regulating Big Tech Companies. This is especially true after seeing the bad effects of monopolistic behaviour by large corporations during Donald Trump’s presidency.
Time will tell if these hopes come true under Joe Biden’s leadership, but before making any big changes in the future, every policymaker should make sure that all stakeholders, from consumers to shareholders, are taken into account.
Even though Biden is in charge, Will Oremus’s OneZero hints at stricter rules for tech.
