Decoder with Nilay Patel How the EU is fighting tech giants with Margrethe Vestager
Mar 17, 2022
Margrethe Vestager, the European Commission's Executive Vice President and a formidable force in tech regulation, dives into her groundbreaking work against industry giants like Apple and Google. She discusses the Digital Markets Act and its aims to combat monopolistic practices, contrasting EU and U.S. regulatory approaches. Vestager also addresses global collaboration in addressing big tech issues, the importance of consumer voices, and how digital regulation can balance user rights with effective moderation, especially in the wake of disinformation.
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Open and Contestable Markets
- The EU aims to create a fair market where success depends on innovation and attracting capital, not market dominance.
- The Digital Markets Act (DMA) seeks to ensure open and contestable markets by promoting competition and preventing large companies from stifling smaller ones.
DMA's Gatekeeper Concept
- The DMA targets "gatekeepers," companies designated as having significant market power based on objective criteria.
- These gatekeepers will face obligations (like data sharing) and prohibitions (like self-preferencing) to foster competition.
Enforceability of the DMA
- Ensure the effective enforcement of the DMA by maintaining the European Commission's final authority.
- This centralized approach is crucial for consistent implementation and leveraging expertise across national competition authorities.