More data doesn’t mean less competition
Some European Union regulators reportedly are concerned that major Internet companies such as Google and Facebook gain an unfair competitive advantage from the detailed consumer data they hold, since other companies can never hope to amass anywhere near as much of it. In addition, some regulators worry that with less competition, these data-rich companies will disregard their customers’ privacy preferences and become more invasive. Not only are these regulators wrong, but by mistakenly classifying big data as anti-competitive and anti-consumer, they risk driving European companies away from the most productive uses of data, which would harm the competitiveness of European businesses and limit the potential consumer benefits.
Author: Joshua New