Big tech has always seen a scramble for control of cyberspace, with groups with hundreds of millions of users gaining massive footholds and becoming highly profitable. As such, eunuchs have a huge impact on consumers and the economy.
This power means that people, economies and nations are struggling to figure out how to counter these Big Tech companies. Antitrust laws aim to curb monopolies and maintain competition, increase scrutiny of new mergers, and seek out Big Tech’s anti-competitive strategies.
Whether or not Big Tech is huge and has a lot of power appears to be a legitimate concern, especially as concerns about breaches of privacy and surveillance capitalism run rampant. Will there be any rule in India that will affect these groups and prompt them to modify their behaviour?
With the adoption of technological capabilities by the Indian government, does this also mean that Indian citizens have free access to layers and layers of personal data that is largely unchecked?
According to Anisha Chand, partner at Khaitan & Co., it’s hard to say how long it will take for Big Tech to tangle and disintegrate and whether it’s really worth it. Disbanding the principal entities will reduce their power, but it also means watching for viable buyers because a portion of that asset or business is given to another entity that would be an effective rival of the dominant party.
It may seem that some entities are going too big, but a closer look will reveal that the green shoots of mass competition are coming, argues Rahul Singh, partner, Khaitan & Co. The concerns surrounding the technology are certainly real and have been heightened further during the pandemic. However, the same forces of competition and capitalism are bringing the solution. Singh said consumers can control what’s happening around them, but it depends on their ability to pay for additional features like privacy.
Never miss a story! Stay connected and informed with Mint.
download
Our App Now!!