Wednesday 8 February 2023

"Competition Is the Antidote to Big Tech's Bad Behaviour, Not Politicians"



"Big Tech is a hot button issue, and prohibiting access is a big deal. But these companies have the right to do so ...
    "As long as a company isn’t physically or forcefully harming another individual or their property, the ability to intervene is limited until new legislation is enacted, and we should be wary of calling for further government interference and be mindful that new laws can backfire....
    “The best regulator of technology… is simply more technology. And despite fears that ... gatekeepers have closed networks that the next generation of entrepreneurs need to reach their audience, somehow they do it anyway — often embarrassingly fast, whether the presumed tyrant being deposed is a long-time incumbent or last year’s startup darling.”
    "[L]ike any vice that is in our life, individuals need to take on some personal accountability for what has transpired in the online and trading realms.
    "The power players didn’t achieve their status by force, and most allowed us access to their services for free (whether for tweeting our thoughts or jumping on a bandwagon for buying stock). It is the producers and users (composed of individuals) who have furthered such ventures....
    "If given a chance, the market will eventually provide solutions to many of the grievances stemming from Big Tech's clumsy efforts to control user content. Creative destruction will bring better processes. And Henry Hazlitt’s succinct words of wisdom are important to remember in situations such as this—'The 'private sector' of the economy is, in fact, the voluntary sector; and the 'public sector' is, in fact, the coercive sector.'
    "Solutions will arise as long as regulatory bodies are kept at bay and rational ethical entrepreneurs and innovators are left unbridled. What is needed now is true economic freedom (removing the incentive of cronyism and political policing) and the welcoming of enterprising individuals."

1 comment:

Kiwiwit said...

The problem with this view is that, as revealed by the so-called Twitter files released by Elon Musk, big tech have been acting as the willing enforcers of the US Government’s desire to censor any opposing views (in clear breach of the 1st Amendment), plus s230 of the Communications Decency Act gives these companies immunity from lawsuits for libel and other harms they cause.