Can the world's tech companies handle the responsibility we give them?

Wow, where to start...

For over the past 20 years, we have been handing over more and more of our personal data to large private companies, not infrequently American, and in this documentary Cold Fusion looks a little closer at that in a mini documentary of about a quarter.

Among other things, how competition works in the tech industry, what responsibility the tech companies take for the information we share with them and how it all glows with freedom of expression. There is also some talk about cryptocurrencies and especially the crypto currency Libra, the currency like Facebook and some of the world's largest tech and payment companies are behind.

The big question that is really being debated is whether these giant companies are starting to become a bit powerful for the good of society and whether they should be split up into smaller units. What do you say about that? The comments are at your disposal.

Have you already seen this Youtube video? what do you think?

https://www.youtube.com/embed/jyxS2bvQGxc

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Not a good idea and not happening. The mega companies will only become larger and more powerful. If they were to be split up they would be harder to manage. Large companies that are small in number are easier to monitor and to regulate as opposed to numerous smaller companies. These large entities have more assets to invest and are good for economies and job creation. Also they invest wisely into political campaigns and are thus sacrosanct and virtually untouchable. They have powerful lobbyists in their back pocket.

 

When you start to regulate large businesses (e.g., splitting them up or putting other requirements on them) it usually backfires and prevents other, smaller competitors from jumping in. That is why you have heard some large companies like Darth Google and Darth Facebook say that they welcomed some sort of regulation or oversight. The reason that they would welcome this is because they have the money and resources to comply with onerous regulations and smaller companies do not, so the smaller companies would be prevented from encroaching on the large companies' turf. What is needed is the next "Google killer" small company that makes the big boys irrelevant.