President Joe Biden is taking aim at Big Tech and Big Telecom’s growing power with a new executive order that will add regulations and facilitate competition within the industries.
The order, which Biden is expected to sign Friday, includes over 70 provisions, all aimed at promoting competition within tech and telecom, both of which have become more monopolistic in recent years.
It encourages the Federal Trade Commission to overhaul its rules regarding personal data collection and bans unfair competition practices online, according to a White House fact sheet. It also calls for more scrutiny when examining potential corporate mergers, especially when a larger corporation acquires a smaller one or when it could affect customers’ privacy or competition within the sector.
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