Is Tech Too Big To Control? TikTok, Apple And Facebook Provoke Policy Headaches

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BRAZIL – 2020/07/25: In this photo illustration a TikTok logo seen displayed on a smartphone. (Photo … [+] Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images)

SOPA Images/LightRocket via Getty Images

There is no better template for the state of the world than the technology industry. In the highly globalized world of the mid 2000’s, Google had one third of the internet search market in China, while today it has close to zero. The internet is becoming multipolar – the US has internet giants that have become stock market monsters, Europe has few tech giants of its own but is leading the regulatory charge on technology, whilst China has on one hand ring fenced its internet space, whilst at the same time generating the world’s leading thriving e-commerce sector and driving tech into social policy.
Multipolar tech world
Technology is interesting in many other respects, but the one I find thrilling is the way it now crosses into every domain – politics, economics, markets and society. It arguably is more pervasive than the new technologies of prior periods of globalization – such as the steam engine and railways (though the technology sector will never match the 60% share of the market capitalization of …

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