The Blog of the European Association for Digital Transition
The news that New York City was filing a lawsuit against various social media companies including TikTok, Instagram, Facebook, Snapchat and YouTube appeared in the media and then quickly disappeared. At first glance, it may seem like a complaint doomed to failure. Nevertheless, that is not so.
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Could the big tech companies launch an assault on the financial sector? For several years now, there have been clear indications that the group known as the GAFAs are interested in this business, but they still haven’t gone after it.
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The vice president of the European Association for Digital Transition, Ana Caballero, was recently interviewed on the video blog La España que reúne, a civil society group that defends consensus around the major values in the Spanish Constitution of 1978. In her comments, Caballero spoke about the principles that drive the European Association for Digital Transition, with a special section dedicated to the latest Facebook’s scandals.
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You see the expression ‘data breach’ almost every day in the media. It refers to situations in which the data we have given to a service provider ends up being available to a third party who, in principle, should not have had access to it.
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Various events are being held this week to celebrate World Consumer Rights Day, a day in which civil society and regulators defend the rights of citizens-consumers. This year, the date takes on a special relevance. This is because it is being held in the midst of major discussions within the European institutions that are designing one of the most important regulatory frameworks for the coming years, that is, the ‘Digital Acts’ regulatory package: DSA, DMA, and DGA.
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March 15 marks World Consumer Rights Day, a commemoration established by the United Nations in 1983. The choice of March 15 comes from a speech delivered on that day in 1962 by John Fitzgerald Kennedy. Speaking at the United States Congress, the then U.S. president defined the consumer as an essential element in the production process, recognising their political relevance and urging institutions to protect their rights.
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It’s no surprise the Silicon Valley tech giants are paying close attention to regulatory activity in the European Union. As of March 2015, when then-Commission President Jean-Claude Juncker announced the Digital Single Market, Europe has been setting a distinct profile in its conception of digitalization, a profile that is increasingly uncomfortable for the so-called Big Five or GAFAM – Google, Apple, Facebook, Amazon, and Microsoft. Some of the issues the Commission is prioritising through the Digital Services Act and the Digital Markets Act are potentially very dangerous for the business model of companies like Google and Facebook. And we’re talking about a market of more than 450 million people.
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It’s been 12 years since Bitcoin was born, and with it the phenomenon of cryptocurrencies, digital assets not issued by any central authority and transacted through blockchain technology. In these 12 years, Bitcoin has experienced dramatic swings in value, becoming established as a high-risk speculative item – in the last 12 months it has been revalued by 20% – but not as a commonly used currency.
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For years, the big American technology companies have grown without too many regulatory impediments to the point of becoming global mastodons. Thanks to attractive products and services that respond to market demand, with loose or directly non-existent regulations in some areas, and wrapped in the American dream aura of the entrepreneur in their garage who becomes a billionaire, the big Silicon Valley companies have achieved such a powerful market position that many consider them de facto monopolies.
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When the history of the big technology companies in the twenty-first century is written, the date of July 29, 2020, might have its place. On that day, the four CEOs of the ‘Big Tech’ Amazon, Facebook, Google, and Apple appeared before the United States House of Representatives antitrust subcommittee, whose members have been investigating their alleged anti-competitive practices for years.
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