Former HP CEO Carly Fiorina on the need to regulate technology companies



well the president threatens all the time I think what's more serious however is there is growing bipartisan consensus that there needs to be some level of regulation I share that concern I think Facebook and Google have amassed enormous power I think when power like that is concentrated it is always abused inevitably I think there is a complete lack of transparency really in terms of how these companies deal with the information that they have and honestly I don't quite understand Facebook's move into Bitcoin because I think it is going to attract even more scrutiny in regulation if you're dealing with everyone's private information and money at the same time that's going to draw a lot of attention what Kali so is this a simple size and scale issue that they should just be broken up or more specific like privacy or responsibility for the accuracy of their content well I think there are a whole range of policy ideas one is size and scale let's just break them up I tend to favor regulation that's focused on creating a floor below which a company's behavior cannot fall so personally I would favor far more transparency around what they actually do and how they do it and policies that require consumers to opt in as opposed to the way it works now where consumers if they understand it well enough can opt out but most consumers don't really understand what either Google or Facebook are doing but I think that whole range of options is now on the table I don't think we're gonna return to a time where regulation of tech is off the table as it has been for a long time so with or without Trump I think Google and Facebook are heading into a different kind of scenario in Washington DC just as they are in Europe and Carly I mean there's also been this idea of you know if you just treat Facebook and Google like like publishers and basically hold them to the standards of the rest of media this whole range of options that that I guess if you're a CEO of one of these companies you have to either be contesting or being proactive about or preparing to defend against yes I think that's right and this may not be the perfect analogy but I recall working at AT&T a long time ago I was an entry-level employee but when divestiture first was being discussed and if you look back at that situation what you saw was a company AT&T that fought against being broken up or additional regulation for a long time but never really prepared for an alternative they could live with and so towards the end they were stuck with very unpalatable choices so my advice for what it's worth to Google and Facebook would be to say start thinking about what policy prescriptions you think would serve you your shareholders and your consumers best don't stick your head in the sand and pretend it's not going to happen don't just fight against everybody and say oh trust us we're doing better our motives are pure both Google and Facebook have tried that it's not very effective so I hope they're spending some time and energy thinking about what would work from a policy point of view that they could live with it seems like that that they're doing that increasingly saying you know regulate us we want to be we want to help be part of the solution and I don't know looking at GDP or in Europe as an example now that that didn't do too much damage we know regulate us we want to be part of the solution is actually smart because at this phase in this stage the worst part of all for them is uncertainty and that's certainly what investors are reacting to is we don't know what's going to happen but whatever is going to happen it's going to be different than what we have right now which is sort of the wild wild west and so I do think it's smart for them to try to be part of the solution and that's why I said earlier Facebook's move into cryptocurrency I find very odd because I think it is going to draw even more attention even more scrutiny and it will not build trust in my view you you

6 Comments

  1. loko319 said:

    If republicans really want to put tech giants in check they should force Carly to be their CEO for 3 years. That's all the time she needs to run it into the ground.

    June 27, 2019
    Reply
  2. Nicola86 said:

    Carly Fiorina for President 2024

    June 27, 2019
    Reply
  3. freedom&conscience said:

    Jealousy.

    June 27, 2019
    Reply
  4. teebone 21 said:

    It's always about the control of information and because less people are using the news or magazines and instead going to Facebook and Twitter the government needs to get their hands on it

    June 27, 2019
    Reply
  5. LifeinChicago said:

    Has she had work done?

    June 27, 2019
    Reply
  6. vietimports said:

    isnt this the lady that ran HP into the ground?

    June 27, 2019
    Reply

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