EU Competition Commissioner, Margrethe Vestager, joined CNN Senior Vice President and Editor-in-Chief, Meredith Artley, on stage at SXSW 2019 for a discussion about how the EU has used regulation to keep their technology markets competitive in recent years.
Shedding light on EU business law that will be particularly valuable for the American tech community and businesses who participate in global markets, Vestager also focuses on EU regulators and their preference for imposing fines instead of breaking up companies.
“Part of being a law enforcer is that you never say, ‘This I will never do.’ You just let it hang there.” – Margrethe Vestager, on whether or not they will ask big tech companies for algorithm transparency
The regulation of big tech was a trending topic at SXSW 2019 and continues to be featured heavily in the news. 2020 presidential hopeful Elizabeth Warren advocated for splitting up the major players and 2019 SXSW Keynote T Bone Burnett raised concerns about the rise of surveillance capitalism on sites like Facebook. These conversations joined a chorus of tech and startup related sessions that discussed and debated the necessity to regulate and break up the big tech platforms.
“The most obvious first thing is to make sure that the people who do algorithms, who own them and are human, take responsibility for what their algorithms are doing. And not just referring to them by saying, ‘What happens in the black box, stays in the black box.’” – Margrethe Vestager
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Featured Session: Fair Competition in a Digital World – Photo by Nicola Gell/Getty Images for SXSW