Permissionless innovation vs. the precautionary principle
They also aren’t actual monopolies. Amazon faces off with online retailers operating on razor-thin margins. The iPhone only has 18 percent market share. Google has thousands of competitors in digital ads. Facebook could go the way of Myspace. None of these companies is free from competition, or in a position to exert monopoly power callously.
The author wants us to embrace precautionary regulation like the EU’s. But there’s a reason few big tech firms start there. It’s a good thing America’s best companies don’t have to ask permission to innovate or forgiveness for succeeding.