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Tech giants such as Google, Facebook, Twitter and TikTok face stricter regulations from the European Union regarding online content.
The new rules, known as the Digital Services Act (DSA), classify companies with more than 45 million users as very large online platforms and require them to do risk management and external and independent auditing. They will also have to share data with authorities and researchers and adopt a code of conduct.
Only at google the average monthly number of signed-in users totaled 278.6 million at Google Maps, 274.6 million at Google Play, 332 million at Google Search, 74.9 million at Shopping and 401.7 million at YouTube.
This isn’t the first step the EU has taken in hopes to curb the dominance of Big Tech companies and potential monopolies. Major technology firms have long faced criticism that they use their market dominance to squeeze out competition.
EU antitrust chief Margrethe Vestager had previously said that what the EU wants “is simple: fair markets…in digital.”
“Large gatekeeper platforms have prevented businesses and consumers from the benefit of competitive digital markets,” she said.
Not everyone is optimistic that the EU regulations will adequately function to diminish Big Tech’s dominance, though. In a statement, European Consumer Organization Deputy Director-General Ursula Pachl cautioned that if the EU task force “does not hire the experts it needs to monitor Big Tech’s practices in the market, the legislation could be hamstrung by ineffective enforcement.”
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