Despite biden bidenoremus.. Although the IT sector appeared to have a lot of influence in the run-up to President Joe Biden’s inauguration, recent events and nominations suggest that his government will be harsher on business than its predecessors.
Many people are unsure of Biden’s position on Silicon Valley in light of Donald Trump’s criticism of the “monopoly” of Amazon, social media platforms’ censorship, and other tech-related issues.
The Discussion About Biden’s Position on Silicon Valley
In terms of the incoming president’s view on technology, there are now two camps: those who advocate for stronger laws and regulations and those who are still hopeful about a more cordial relationship between the government and Silicon Valley.
On the one hand, people who support stricter regulation of major tech firms like Google, Apple, Facebook, Amazon, and others have a reason for optimism.
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Many individuals point to recent U.S. data privacy laws, such as California’s Consumer Protection Act (CCPA), which provides customers more influence over how businesses utilize their personal data.
They also point to recent antitrust lawsuits brought by the Department of Justice (DoJ) against large tech companies as evidence that regulators are willing to take a stronger position against industry heavyweights suspected of engaging in anti-competitive behavior.
Some experts say that President Biden might impose higher fines for businesses that violate current regulations or introduce new ones, in addition to these regulations and lawsuits.
Additionally, some contend that he ought to split up huge corporations like Facebook or Amazon into smaller ones in order to foster competition in each of their individual industries.
A more cordial partnership between the government and big tech?
Trump had a difficult relationship with Silicon Valley while in office and frequently accused big tech firms like Google and Twitter of being biased against conservatives.
Contrary to this strategy, many think that President Biden will take a softer approach to regulate Big Tech because of his close relationships with venture capitalists from California and his long-standing friendships with executives from significant technology companies like Microsoft CEO Satya Nadella.
Several tech leaders have also applauded his selection because they anticipate that if he succeeds in promoting a more open atmosphere for innovation in the U.S., it might be advantageous to their companies.
For instance, Joe Greenstein, co-founder of Flixster, has praised how Biden may re-energize innovation if he is successful in passing laws on issues like immigration reform or family leave insurance while simultaneously offering tax incentives for business owners wishing to launch small enterprises.
What will occur after that?
It is still too soon to say with certainty what effect President Joe Biden will have on Silicon Valley, but one thing is certain: policymakers on both sides of the political spectrum are anticipating increased scrutiny when it comes to regulating Big Tech Companies, particularly in light of the consequences brought on by the monopolistic behavior displayed by big businesses during the administration of Donald Trump.
Only time will tell if these expectations materialize under Joe Biden’s leadership, but before making any significant changes moving forward, policymakers should make sure that all stakeholders—from consumers all the way up to shareholders—are taken into account.
Will Oremus’ OneZero Indicates Tougher Regulation of Technology Despite the Biden Presidency
