European Union and British regulators unveiled draft laws that seek to halt Big Tech monopolies, as well as stop the spread of misinformation and harmful content online. The new rules are designed to rein in the power of so-called gatekeepers like Amazon, Apple, Facebook, Google and Microsoft and would impose hefty fines. The rules also offer a possible path to breaking up companies that repeatedly violate European antitrust laws. This is European Commissioner for Competition Margrethe Vestager.
Margrethe Vestager: “In this proposal, there is a sense of future proofing, because it’s also dynamic. We can do investigations, if it need be, so that we can see if gatekeepers are emerging, and we can put on them obligations. And this is, of course, because without enforcement, not worth much.”