Looking Forward, Looking Back: a 2024 Tech Policy ‘Wrapped’ w/Luke Hogg and Josh Levine
Dec 18, 2024
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Luke Hogg, Director of Policy and Outreach at the Foundation for American Innovation, and Josh Levine, Tech Policy Manager at the same organization, dive into the significant twists in tech policy throughout 2024. They discuss the ramifications of antitrust lawsuits against Big Tech and emerging data privacy laws aimed at protecting kids online. The duo contrasts U.S. regulations with Europe’s aggressive tech frameworks, exploring the future of AI regulation and potential shifts post-election. Tune in for their insights on what lies ahead in 2025!
The downfall of Sam Bankman-Fried served as a catalyst for heightened scrutiny and skepticism within the already fragile crypto industry.
The nomination of Paul Atkins to the SEC signifies a potential shift toward a more balanced regulatory approach to cryptocurrency innovation.
The EU's stringent tech regulations are prompting American companies to hesitate in engaging with the European market, stifling potential innovation.
Deep dives
Sam Bankman-Fried's Impact on Crypto
The case of Sam Bankman-Fried highlights a significant moment in the crypto industry, marked by his downfall after being sentenced to 25 years in prison for fraud. This raised concerns about a 'crypto winter,' with many digital currencies, including Bitcoin and Ethereum, experiencing substantial drops in value. The incident underscored fears that the crypto sector would be permanently tainted by fraud, as it reinforced pre-existing skepticism about the legitimacy of cryptocurrencies. However, efforts to revitalize the sector quickly took shape, with political figures such as Donald Trump embracing crypto, signaling a potential resurgence.
Regulatory Landscape Shifts
The regulatory environment surrounding crypto has seen significant changes recently, particularly with the nomination of Paul Atkins to the SEC, marking a shift from the previous chair, Gary Gensler. While Gensler took a hard anti-crypto stance, Atkins is expected to take a more balanced approach, which many in the crypto industry view as a positive development. The hope is that Atkins will provide a fairer regulatory landscape that still allows desirable innovation while targeting bad actors. This change, coupled with the influence of pro-crypto figures in the government, suggests the possibility of a more supportive environment for crypto in the future.
Europe's Approach to Tech Regulation
The European Union's recent regulatory actions, including the Digital Markets Act and AI Act, position it as a leading body in tech regulation, albeit with considerable contention. As regulations tighten, some American technology companies have halted product rollouts in Europe due to uncertainties regarding compliance with existing laws like GDPR, the DMA, and DSA. These conflicting regulations, with their high compliance costs, lead companies to believe that engaging in the EU market may not be worth the risk. The implications of strict regulations may reinforce Europe’s reputation as a poorly managed environment for new tech and innovation.
Fractured Reality in Media Consumption
A growing divide in media consumption reflects the changing landscape of information dissemination, where audiences increasingly seek content that aligns with their personal beliefs. Traditional outlets struggle against the backdrop of alternative media platforms, which have gained traction among specific demographics, particularly younger voters. This fragmentation of information highlights the importance of engaging diverse audiences through various means, such as podcasts and non-political shows. Candidates' strategies, like those of Donald Trump who reached out through casual media appearances, emphasize the need to connect with voters in their preferred forums.
Future Prospects for U.S. Tech Policy
Looking ahead, key predictions for tech policy indicate a shift in regulatory attitudes due to changes in personnel and potential bipartisan acknowledgement of the need for less invasive oversight. As both Republicans and Democrats consider issues like surveillance reform, there may be opportunities for policies that uphold digital privacy while respecting user rights. The potential for state-level actions on tech issues, including children’s online safety, is also anticipated as a rising trend. These evolving dynamics suggest that the regulatory environment is becoming increasingly responsive to the actual operational needs of tech companies and emerging technologies.
2024 has been a whirlwind year for tech policy, filled with landmark moments that could shape the industry for years to come. From the high-profile antitrust lawsuits aimed at Big Tech to intense discussions around data privacy and online safety for kids, the spotlight on how technology impacts our daily lives has never been brighter. Across the Atlantic, Europe continued its aggressive regulatory push, rolling out new frameworks with global implications. Meanwhile, back in the U.S., all eyes are on what changes might come to tech regulation after the election.
With all this upheaval, one thing remains constant: people love posting their Spotify Wrapped playlists at the end of the year. It’s a fun way to reflect on the hits (and maybe a few misses) of the past twelve months, so we thought, why not take a similar approach to tech policy?
In this episode ofThe Dynamist, Evan is joined by Luke Hogg, FAI’s Director of Policy and Outreach, and Josh Levine, FAI’s Tech Policy Manager, for a lively conversation breaking down the year’s biggest stories. Together, they revisit the key moments that defined 2024, from courtroom dramas to legislative battles, and share their thoughts on what’s next for 2025. Will AI regulations dominate the agenda? Could new leaders at U.S. agencies take tech in a bold new direction? Tune in to hear their reflections, predictions, and maybe even a few hot takes as they wrap up 2024 in tech policy.
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