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The EU unfortunately spent the last two years destroying it's credibility on the world stage. In both its legal institutions as well as its financial systems.
by rjzzleep 3y ago
The EU unfortunately spent the last two years destroying it's credibility on the world stage. In both its legal institutions as well as its financial systems.
We are indeed at a critical moment in the sense that they might still be a small window to turn things around, but as it stands, it seems like a parasite cannibalizing its host. Already we are seeing places that just don't care about complying with EU regulations anymore.
Personally I had a little flicker of hope that they would force Apple to open its ecosystem, but it seems like that was just wishful thinking...
- mjburgess 3y ago1) the "EU" is not homogenous at any level. The regulators of tech seem much more anti-trust inclined than others. 2) Even if companies withdraw from the EU, the EU can still wreck their operations outside of the block in a large variety of ways. They could, eg., place DMA restrictions on what tech can be invested in by EU citizens -- then we're talking a massive loss of customers and FDI to the US. etc. etc. 3) Many US states, esp. california, will largely be copy/pasting this approach; as will many countries around the world. The EU is innovating and leading legislation, it is not an outlier. 4) If the EU is steamrolled, that will be a major worry of regulators elsewhere. Other countries (, states) will end up being much more draconian to prevent it. Consider, eg., many regs in california being actually more restirctive than those in the EU (child safety, etc.