Taking on the tech giants
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 6 September 2023
⏱️ 7 minutes
🧾️ Download transcript
Summary
From the BBC World Service: Services run by the world’s biggest tech companies are a part of everyone’s daily lives, but governments have been playing catch up when it comes to regulating their power. Today the European Union will publish a list of companies, known as gatekeepers, that will be subject to new rules aimed at encouraging competition and stopping big players from crushing smaller rivals. Plus, are you a fan of K-pop? It’s now estimated the industry earns South Korea around $10 billion a year. But it’s not just famous bands like BTS that are turning K-pop into a valuable export. Choreographers behind the dances are quickly gaining a following well beyond South Korea’s borders.
Transcript
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| 0:00.0 | Taking on Big Tech Hello, you're listening to the Marketplace |
| 0:04.6 | Morning Report from the BBC World Service. I'm Vivian Noona stepping in for Leanna |
| 0:09.4 | Burn. Good morning. Developments today in Brussels could open a new battlefront between |
| 0:15.1 | US Tech Giants and the European Union. Governments across the world have been playing catch-up |
| 0:20.8 | when it comes to regulating the power of Big Tech. Today the EU will publish a list of companies |
| 0:26.2 | known as gatekeepers that will be subject to new rules aimed at encouraging competition |
| 0:31.2 | and stopping big players from crushing small arrivals by buying them out. |
| 0:35.4 | Edith Hancock covers antitrust issues in Brussels for Politico. Earlier she told me which companies |
| 0:41.4 | are in the frame. Those are companies that run digital platforms and services that are entrenched |
| 0:47.3 | in their respective markets. So we're expecting that to really focus on all of the Big Five US Tech |
| 0:52.6 | companies, Apple, Microsoft, Alpphabet, Amazon, Meta. But also there was a notification period |
| 0:59.5 | earlier this year where by dance which ends TikTok did also notify a potential gatekeeper status |
| 1:05.9 | to the commission and we also saw Samsung do the same. Do we expect some kind of pushback |
| 1:10.4 | from these big companies then? There is a possibility for companies to rebut a designation given |
| 1:16.8 | by the commission. The commission has said that this is only something that can happen in |
| 1:20.6 | exceptional circumstances but honestly everybody is expecting there to be at least some pushback |
| 1:25.8 | from these gatekeepers. We've already seen reports that for example Microsoft disagrees with |
| 1:32.4 | the premise that it's so in search engine being might be caught under the scope of the regulation |
| 1:38.3 | because compared to Google search you know being is really a much smaller competitor. |
| 1:42.8 | And how will users notice this legislation being passed and what will change for those users? |
| 1:48.1 | We're seeing suggestions that we might have the ability to download an app just from a pop-up |
| 1:53.7 | advertisement on your computer screen rather than having to go all the way through somebody else's |
... |
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