EU takes the lead in reining in Big Tech, again
Two new laws, touted as a milestone in the bloc’s regulation of digital markets, are set to change the way companies do business.
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Editor's note: This is the 50th edition of Oversize. I truly appreciate your readership and have enjoyed bringing this newsletter to you every fortnight. I hope it was a worthwhile addition to your subscription. Feedback is always welcome. *** Earlier this month, the European Union approved landmark antitrust rules to rein in tech giants. Once formally adopted, the rules are expected to take effect in early 2023. However, much of what they can achieve will depend on how they are implemented and enforced. It does mark a new chapter for how technology companies will be able to operate in the EU. And, of course, any regulation in the European Union will have resounding effects in other markets, even if not immediately. In the past, the Global Data Protection Regulation, or GDPR, in Europe, for example, went on to affect online businesses globally. But before we go further, let’s understand the two new laws that the European Commission called “gradual but unprecedented in their scope”. Digital Markets Act The DMA enables a wide range of antitrust action, including the right to uninstall software …
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