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UK’s digital markets regulator gives flavor of rebooted rules coming for Big Tech
The UK's competition authority has fleshed out new details of how it plans to wield long anticipated powers, incoming under a reform bill that's still in The UK's competition authority has fleshed out new details of how it plans to wield long anticipated powers, incoming under a reform bill that's still in front of parliament, to proactively regulate digital giants with so-called strategic market status.
The text goes on to set out a list of 11 “operating principles” (see graphic below) it says will feed its decision-making on which of the myriad possible Big Tech abuse battles to pick — including saying it will have a focus on always applying a pro-competition lens; selecting for maximum impact; and seeking to move quickly (and repair harms, to coin a phrase) as issues develop. This update has seen the country’s regulator designate a number of tech giants, including Amazon, Apple, Google and Meta, as subject to a special abuse control regime for firms deemed to have “paramount significance for competition across markets”. Vast amounts of money and compute resource are being deployed in a way that threatens to enable current-gen tech giants to further extend their market dominance, via strategic tie-ups to startups operating at a claimed arm’s length distance from their own business empires, in spite of amped up competition oversight of their own core platform services.
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