President Joe Biden on Friday signed a sweeping executive order that targets big tech mergers but includes a provision favored by most tech giants.
The order instructs the Federal Trade Commission to more closely monitor merger attempts by “dominant internet platforms” and to restrict how tech companies can exploit users’ personal information. But it also recommends that the Federal Communication Commission restore net neutrality rules, which prevent internet providers from making distinctions among users. Tech giants like Facebook and Amazon support net neutrality because it bars internet providers from charging platforms based on their broadband use.
The order signals the Biden administration’s confused approach to big tech regulation. At the signing ceremony, the president called out big tech directly, describing the executive order as an effort to promote “fair competition,” one of the administration’s priorities. But Biden still has not nominated a nominee for assistant attorney general for antitrust, a major enforcement position. Congress is considering considers legislative proposals to regulate the biggest tech companies, but there is little consensus on what approach to take.
Politico reported that the executive order was shaped in part by Tim Wu, a professor now serving in the Biden administration as a special adviser on economic and tech policy. Wu and FTC chairwoman Lina Khan have been some of the administration’s most aggressive voices in calling for increased scrutiny of major tech companies.- READ MORE
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