Big tech’s big problem

Regulations are often slow to catch up with technological innovations, but when they do come, their effects can be devastating.

26 May 2022

Consider this fact: the five largest technology companies in the US are now worth over $9 trillion collectively. Apple and Microsoft alone account for more than half of that. Companies with the economic power of medium-sized countries might seem to be untouchable, but they have an Achilles' heel – regulators.

On March 24, European regulators announced the long-awaited Digital Markets Act – a law that directly challenges the market power of technology giants. Companies with significant earnings and market share will be deemed ‘gatekeepers’ and will be forced to open up their platforms to smaller competitors.

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