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The New York Times: Biden's executive decision to limit the growth of giant technology companies


US President Joe Biden will encourage federal agencies to crack down on the way big tech companies grow through mergers and gain a competitive advantage by tapping into consumer data packets, as part of a larger executive order aimed at distracting corporate mergers, the New York Times said. throughout the economy.


The newspaper pointed out that the executive order that Biden will sign specifically targets major technology companies such as Amazon, Apple, Facebook and Google, according to people familiar with its terms.


The New York Times said that the decision would tell federal agencies that approve mergers of the need to closely examine tech industry practices, and the second clause of the decision would encourage the Federal Trade Commission to write rules that limit how tech giants use consumer data, in response to criticism that companies such as Amazon They can take advantage of what they know about users in order to gain the upper hand in competing services and companies.


The newspaper described the decision as the latest acknowledgment by President Biden of fears that the tech giants have gained massive market power, becoming gatekeepers to commerce, communications and culture. A growing group of lawmakers, academics and rival firms say government regulators have failed to stem the growth of firms for more than a decade. To address companies' market power, policymakers need to aggressively enforce and possibly rewrite antitrust laws to take better advantage of Silicon Valley's business models.

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