Facebook needs a facelift - The Mail & Guardian

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The free market has never been a free-for-all, yet tech companies have long operated with few constraints on their business models. Perhaps the latest Facebook scandal will finally provide the impetus governments need to take effective action.

of whistleblower Frances Haugen, a former Facebook data scientist, before a US Senate subcommittee told us anything, it was that tech companies cannot be relied upon to regulate themselves. And why should they be? It is a basic principle of modern economics that governments mandate the terms of operation for business. The real question is how governments can best exercise this authority when it comes to the tech sector.

But tech companies also serve a useful purpose. They have built much of the public infrastructure of the digital age, including search engines, global portals for news and social networking, GPS-based navigation apps, online commercial and job marketplaces, and movie, music and live-streaming platforms.

 

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