The European Union wants to further crackdown on big tech companies and use a shortlist to decide which of the companies will face new restrictions.
In a recent report from the Financial Times, the EU is said to already be drafting out its “hit list” of about 20 big tech firms which would face harsher regulations compared to their smaller rivals among which mandatory data sharing and greater transparency. The list would be based on criteria like market share, user counts, and the dependency others have on their platforms.
But the companies on the list aren’t yet known but its believed that majority of those topping the said “hit list” are US-centric and are probably going to be the likes of Amazon, Apple, Facebook as well as Google. That likely wouldn’t help tensions with the current American leadership, but it would also dovetail with a US House subcommittee investigation that accused those same companies of holding monopoly power that needed regulation.
When the list will be ready is also not known as proposals for Digital Services Act which is meant to revamp the EU’s internet regulation are due by early December though its not certain if the list would be ready at the same time.
The EU reportedly wants to do more than finning tech companies but also find a way to make those companies quickly change how they operate which includes being open to competition or forcing them to split up if possible.