“What began as a laissez-faire attitude of benign neglect – largely a result of ignorance and inattention – is evolving into something more forceful. As tech firms reach systemic importance, attitudes toward them change markedly”
only more profound.
Big Tech can and should play a larger role in helping the entire economy to evolve in an orderly and mutually beneficial manner. This will require, first and foremost, that they internalise their own systemic importance, and adjust their perspectives and behaviours accordingly. But it will also demand far better communication, with firms’ objectives and operations becoming much more transparent. And, finally, it will call for a commitment to enhanced monitoring both of themselves and of their peers, together with more effective collective action, as appropriate.
If the tech sector fails to make such changes, government oversight and regulation will inevitably intensify. And it is far from certain that the net result will be positive for society, much less for business.