Billion-Dollar Fines Don’t Hurt Tech Giants, Ex-EU Enforcer Says
(Bloomberg) — Silicon Valley is more worried about being forced to change how it does business than mega antitrust fines, according to the European Union official who pushed through landmark decisions against Microsoft Corp., Intel Corp. and Google.
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Light trails from network switches illuminate fiber optic cables, center, and copper Ethernet cables inside a communications room at an office in London, U.K., on Monday, May 21, 2018. The Department of Culture, Media and Sport will work with the Home Office to publish a white paper later this year setting out legislation, according to a statement, which will also seek to force tech giants to reveal how they target abusive and illegal online material posted by users.
While a 1.06 billion-euro ($1.2 billion) fine for Intel in 2009 sent a “big message” to tech giants, levying such costs isn’t the most important thing regulators can do, said Cecilio Madero