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“Sen. Elizabeth Warren, D-Mass., has set out an extreme agenda to break up big tech. She is calling for legislation that would require large tech platforms to be designated as “platform utilities” and broken apart from any participation on that platform. She also vows that her administration would appoint regulators committed to reversing illegal and anti-competitive tech mergers.
Warren’s policies are misguided and premature. Undeniably, the big tech platforms have resulted in innovations enabling the launch of new products and services resulting in many benefits to consumers. That is due to the nature of a free market economy which provides incentives of firms to innovate and grow. When the rewards of that innovation are removed, and firms are restricted in growth, the economy can suffer through less innovation and aggressive competition.
Warren suggests a radical restructuring of these key markets. We know from decades of deregulation of other industries that when the government tries to impose a structure on the market, consumers tend to lose from less competition and innovation. Moreover, such a restructured market may lead to even greater regulation.”
JJ Editor's Daily Picks
"The country’s prime minister and attorney general have mentioned banning semiautomatic firearms, but it’s far from a done deal."
"Beto O’Rourke is in! After a reverential Vanity Fair profile and awkward couch announcement at his home, he is now seeking to become ... something."
"Campaigns are traditionally filled with promises... There is one promise being made by some parties that I can confidently declare as unrealistic."
"Netflix has received credit from many critics for championing diverse content. An assessment of the number of stories by and about Latinos in the United States paints a very different picture."
"Ride hailing is going public. According to Reuters, both Uber and Lyft are on course for an initial public offering this year. Lyft will probably debut later this month. Uber is readying the paperwork..."
"The traces we leave on the Web and on our digital devices can give advertisers and others surprising, and sometimes disturbing, insights into our psychology."
"The value of outsider art to the art world lies less in its formal qualities than in the narrative surrounding its artists. Outsider artists can make for easy-to-manage art stars: they’re often shy or indisposed, dead or reclusive."
"Many modern translators tend to soften the strangeness of the Hebrew Bible, but Robert Alter embraces it. It’s the strangeness that gives the original much of its power."
"Birth order does not appear to influence personality in adults, according to several ambitious studies published in the past few years. This new wave of research relied on larger data sets and more robust statistical methods than earlier reports..."
"The best burger place Is a lab... Growing meat cell by cell is better for your wallet and the world." Click to learn more in the latest "Think Like a Scientist" video from Nautilus.
"Such devices, like all computers, can be hacked or go awry. What if a person's prosthetic limbs are co-opted and instructed to walk in front of cars, rather than away from them?"
"The people of Amalek were possibly the first organised nihilists in the world (in spite of the fact that “organised nihilist” is oxymoronic). They believed that there was no meaning to the world or to life."