I worry about what regulation could look like. Some of the hearings Congress has held feel more like pressure to censor per the whims of those in power (https://greenwald.substack.com/p/congress-escalates-pressure...). Another possibility is that regulation turns into regulatory capture that perpetuates the market share of big incumbent companies.
What I would prefer instead is updated and enforced antitrust regulation, utility like protection of customers/viewpoints for large platforms with network effects, subjecting politically non-neutral actions (like algorithmic biases) to election/funding controls, and an outright ban of social media for minors (with age verification).
> Lena Pietsch, Facebook’s director of policy communications. “We don’t agree with her characterization of the many issues she testified about. Despite all this, we agree on one thing; it’s time to begin to create standard rules for the internet. It’s been 25 years since the rules for the internet have updated, and instead of expecting the industry to make societal decisions that belong to legislators, it is time for Congress to act.”
Legislation usually fortifies the positions of companies like
Facebook, especially since there is so much mingling between big tech and Washington. Facebook isn't the internet and perhaps her own comapany is in need of it.
What I would prefer instead is updated and enforced antitrust regulation, utility like protection of customers/viewpoints for large platforms with network effects, subjecting politically non-neutral actions (like algorithmic biases) to election/funding controls, and an outright ban of social media for minors (with age verification).