Fresh thinking needed to keep Big Tech in check

By the Financial Times Editorial Board

The Federal Trade Commission’s $5bn fine for Facebook — assuming it is approved by the Department of Justice — is both eye-catching and sets a new record. The 2 per cent rise in Facebook shares after it was reported shows how little impact the market believes it will have on the company’s finances or business model. Facebook and its rivals should nevertheless view the case as a warning shot. Beyond the FTC, the debate has shifted from fines to increasingly severe measures…

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