EU and US are diverging on how to rein in Big Tech

By Richard Waters, Financial Times

How best to restrain the rampant power of Big Tech? Should regulators hit companies with everything they have got, using antitrust law — imperfect as it is — to cudgel them into submission? 

Or should they try to change the rules of the game completely, in the hope that there is enough political alignment (and public angst) to impose an entirely new way of doing business on the world’s most powerful corporations.

These two alternatives are currently playing out on either side of the Atlantic. In Texas, Republican attorney-general Ken Paxton — fresh from leading a failed attempt to overturn the results of the US presidential election in America’s main swing states — posed before the statehouse this week to warn Big Tech: “Do not mess with Texas.”

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