EU May Create a New Regulator for Internet CompaniesAdded: Tuesday, May 5th, 2015
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Europe is currently considering the idea of creating a new regulator to oversee the tech giants like Google and Facebook. According to the recent leak, the plan in question was prepared for EU digital commissioner. The latter is cited as saying that some digital businesses are transforming into “super-nodes” that can be very important for the rest of the economy. Therefore, a lack of action may lead to the situation where the economy is irrevocably tied to a few major companies.
The plan provides examples – Amazon and Etsy – who can exclude companies from their listings as a result of a suspected, but not necessarily proven breach of terms and conditions. The plan also mentions TripAdvisor and Booking.com as companies exercising undue power by being the “main entry point” to the travel sector, able to charge fees with full discretion.
Due to the massive reliance on these companies by other sectors of the economy, the tech giants could potentially put the European economy at risk by unfair conduct. Therefore, a new “supervision framework” is required to prevent this by having power to ban unfair practices and prevent the use of tech giants’ platforms to promote their own services.
The plan also suggests to demand for interoperability to users, making it easier to switch between service providers. According to the leaked data, closed platforms of the Internet companies are already hurting EU companies. Despite the fact that EU app developers take 42% of the worldwide consumer app revenue, the EU trade balance of the app economy in general is negative (€128m), mainly because of the app platform fees that European developers have to pay on revenue earned to US platform owners.
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Tuesday, May 5th, 2015
|EU c***s what do they know||
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