The European Union has long sought to constrain the operations of U.S. technology companies, hoping to create a competitive environment for weaker European firms. Over the past decade, the EU has unleashed a blizzard of new laws, regulations, and lawsuits designed to limit the success of digital companies from the United States. Almost as bad is the apparent willingness of the Federal Trade Commission (FTC) to piggyback on EU regulations in order to achieve policy objectives that Congress and the courts have repeatedly rejected. The EU and the FTC also want to impose a preemptory regulatory regime on the next Big Tech innovation, AI. But the results will not be what Brussels or Washington desires. Rather than helping EU companies compete, these efforts are more likely to give the advantage to Chinese firms, thus creating the environment the EU dreads — a digital world dominated by a handful of national champions not based in Europe or America. I have written more about this here.
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