As Biden Targets Big Tech, a Reminder That Decentralized Technologies Are Anti-Monopolist

<p><span style="font-weight: 400;">On this episode of “The Breakdown,” NLW analyzes President Joe Biden’s “Factsheet: Executive Order on Promoting Competition in the American Economy,” including:</span></p> <ul> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">The shift in public sentiment against Big Tech</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">The order’s implications to the tech and finance sectors</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Crypto’s decentralized nature as intrinsically anti-monopolist</span></li> </ul> <p><span style="font-weight: 400;">For a period of time, tech companies enjoyed the highest public opinion among large corporations. However, the rise of ad-focused platforms and the advent of social media (with all its demons) encouraged increased scrutiny. Privacy concerns only add to the distaste toward companies including Amazon, Google, and Facebook.</span></p> <p><span style="font-weight: 400;">With public opinion souring, governments are similarly implementing various regulation schemes as they become wary of the threat of monopolization. Take Europe, for example, which created the General Data Protection Regulation system, and China’s more aggressive actions against social media. The U.S. has dabbled in tightening its reins on big tech with an assortment of antitrust lawsuits, but President Biden’s recent executive order takes the mentality to a new level.</span></p> <p><span style="font-weight: 400;">The public mindset and regulatory shift places crypto as the potential solution to concerns of monopolization. Crypto’s decentralization – its lack of CEOs and corporate power structures – make it an attractive path away from monopolies in the American economy.</span></p> <div data-pm-slice="1 1 []" data-en-clipboard="true">--</div> <div>Enjoying this content?</div> <div> </div> <div>SUBSCRIBE to the Podcast</div> <div>Apple:  https://podcasts.apple.com/podcast/id14