As federal regulators sharpen their focus on big tech, expect to see and hear more from Rep. Ro Khanna, a Silicon Valley congressman who is shaping...
As federal regulators sharpen their focus on big tech, expect to see and hear more from Rep. Ro Khanna, a Silicon Valley congressman who is shaping legislation with a Republican counterpart that is tantamount to an internet Bill of Rights.
“We need smart, thoughtful legislation, not a reflexive breakup of companies,” Khanna told MarketWatch in a phone interview late Friday. “That means protecting consumer privacy and competition without hurting innovation and our competitive edge over China.”Khanna is one of several federal lawmakers from both sides of the aisle who have pledged to make Big Tech more responsible for how it collects and manages the data of billions of people.
“We expect six to seven bills that are well-crafted and nuanced that protect consumers without impeding innovation,” Khanna told MarketWatch. Those guidelines hew more closely to Europe’s General Data Protection Regulation and California’s developing privacy law, which place tighter restrictions on data-collection practices.One possible bill would give consumers permission to “opt in” rather than “opt out” of digital systems before their data can be collected and shared with third parties.
“Technology and business models change based on the preferences of consumers,” Lal told MarketWatch in a phone interview. “What this all comes down to is not assessing and penalizing market power, as it did with AT&T Inc. T, -1.80% , but reacting now to the growing influence a Facebook has on the behavior of the consumer base in things like elections.
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