Intelligence Squared The Sunday Debate: Break Up The Tech Giants
Sep 19, 2021
Rana Foroohar, a global business columnist for the Financial Times, and Luke Johnson, a renowned entrepreneur, argue for the breakup of tech giants, citing their risk to democracy and consumer freedoms. On the opposite side, Elizabeth Linder, ex-head of Facebook's European division, and Professor Pinar Akman discuss the essential services these companies provide and caution against scapegoating them. The debate navigates crucial themes like data privacy, competition laws, and the evolving role of technology in our lives.
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The App Store Casino
- Rana Foroohar's son unknowingly racked up App Store charges playing a football game.
- This, she realized, uses similar persuasive technology as casinos, creating a cognitive crisis.
Crisis of Attention
- Tech companies are "attention merchants" exploiting persuasive technology.
- This creates political and economic crises, exemplified by election manipulation and outdated antitrust laws.
Breakup for Innovation
- Breaking up tech monopolies can foster innovation and growth.
- Historical examples like railroads, oil, and telecoms demonstrate this, leading to more startups and shared wealth.