https://amgreatness.com/2021/06/13/reflections-on-the-digital-revolution/
The problems and challenges posed by what is often referred to as “Big Tech” should primarily be understood as novel instantiations of age-old issues. Power, whether political, cultural, or economic, tends to concentrate over time unless that concentration is disrupted by an outside force that favors or forces dispersion.
This is readily apparent across nearly every segment of the American economy today. Every major industry and thus every labor market is dominated by what are effectively cartels: chemicals, airlines, steel, automobiles, health care, and so forth. This creates all kinds of undesirable byproducts, but nowhere is the effect more pronounced and the outcomes more anti-social than those created by Big Tech—especially the FAANG companies. These are Facebook, Amazon, Apple, Netflix, and Google. I’d also include Twitter for our purposes because of the outsized role it plays as a platform for public discourse. It’s noteworthy that Microsoft is not included: it may be larger than Facebook, but is clearly less powerful.
That fact is critical to understanding the nature of the problem America faces. Part of the problem is bigness itself, but the more significant issue is the power that the large tech companies exert by controlling access to critical technology, infrastructure, customers, or people. The network effects that make these companies powerful also create a natural defense against competition. That’s a fantastic business proposition, but it can be bad for the country. And that’s where we find ourselves today. The power wielded by these companies undermines what Oren Cass describes as “the basic assumptions on which our market, our democracy, and our society have relied.”
The solutions to the problems created by the digital revolution are perhaps not simple, but they are less complex than they may seem once we understand the problems clearly. While the Sherman Anti-Trust Act, which already prohibits anti-competitive behavior, should be applied—and updated if necessary—to Big Tech companies, that is only a partial solution. The bigger issue is that these companies abuse the essential political rights of all Americans by regulating political speech. This is where both our thinking and the law need upgrades. The scale of these companies and the essential role they play as platforms for political speech mean that they must be regulated in order to protect and promote that speech. Arguments that Facebook and Google are analogous to small, local bakeries because they are both non-state-owned companies are facile, untrue, and disingenuous. They don’t have anything like the same amount of power and they don’t play the same role in the lives of their customers or the country.