While the “big 5” Big Tech companies — Google, Apple, Meta, Amazon and Microsoft — have become a politically popular scapegoat, they’re also evidence that the United States is doing something right when it comes to tech leadership. That all five are American businesses lends support to the idea that our domestic system of relatively open markets incentivizes innovations that result in such groundbreaking companies.
Rather than protect that system, some U.S. lawmakers seem willing to emulate European actions characterized by ongoing fines, targeted taxes, and antitrust actions targeting U.S. tech companies. The European Union (EU) seems envious of America’s dominant position in innovation and technology — or simply “tech envy” — which is something the U.S. should avoid.
Published in its entirety in The Hill.