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I would believe regulations on banking would apply regardless. You would apply these laws only to places where social media companies are dealing with the peopl

I would believe regulations on banking would apply regardless. You would apply these laws only to places where social media companies are dealing with the people's day today data and interactions, not stuff like banking. It's the law, it'll be written by a billion lawyers who consider edge cases like this and this little comic will apply. https://xkcd.com/1494/ https://xkcd.com/1494/

jonnybgood 4y ago
You're oversimplifying the law. There's no legal speak as to what constitutes Big Tech. What if it's a social media company that does financial transactions? Overall, you're giving more power to Big Tech and lessening the power of government over Big Tech. They will be able to hide their offenses under the cover of "user's data", which the government is not allowed to see.
- bioemerl 4y ago
  > There's no legal speak as to what constitutes Big Tech. What if it's a social media company that does financial transactions? Again. This is literally what law is all about. All existing law was created from baselines like these, and this is a very very poor excuse to refuse to regulate a massive and dangerous industry. Refusing the ability for the government to absorb the data of big tech is not empowering them, it's weakening them.