You have surely heard a lot of buzz about technology legislation lately. It is hard to miss in the headlines, co-mingled with the rampant ransomware attacks across the country. It’s true that this legislation is mostly aimed bigger corporations like Amazon and Facebook. However, it will most definitely end up affecting SMB’s (Small and Medium Businesses).
What is it?
A collection of legislation was introduced over the Summer with the intent to ‘enhance antitrust enforcement and restore competition online’. They include:
- Ending Platform Monopolies Act
- American Choice and Innovation Act
- Platform Competition and Opportunity Act of 2021
- Augmenting Compatibility and Competition by Enabling Service Switch (ACCESS) Act of 2021.
This collection of bills are also referred to the ‘Populist Antitrust’ and ‘Hipster Antitrust’ legislation.
The big goal of this collection is to provide more regulation for ‘big tech’ companies to avoid monopolization and provide an equal-opportunity market for all.
Oh, wouldn’t it be loverly!
While for many, this might seem like a fantastic opportunity, but not all SMB owners are convinced.
An analysis done by Data Catalyst, explores these concerns in a four-page document. As per their website, the ‘Data Catalyst Institute (DCI), part of Catalyst Research, is a research organization working to inform and shape policies that provide meaningful business and consumer protection while promoting economic and social good.’
Chief among their concerns is the interconnectedness of companies like Amazon and Facebook with SMBs across the nation. Many SMBs rely on services or platforms provided by these entities to run their business. It is a concern that the broadness of this legislation would have a negative trickle-down impact, disrupting the supply chain for everyone involved.
Monopolized.
An obvious concern for many, is the possibility of an entity forming a monopoly over an industry. This collection of bills makes certain aspects of business acquisition unlawful in regard to the world wide web. Just like a brick-and-mortar business is beholden to similar laws and regulations.
In a positive light, this can help many SMBs thrive in a more ‘open-access’ online market. It may also greatly limit the ability for big-box giants to push branded items only previously available from smaller retailers or services.
Again, some organizations are concerned that this will cause the supply chain to be interrupted or slowed. Thus, causing SMBs additional issues providing services or delivering goods.
What can Vodigy do to help?
Unfortunately, we can’t see the future. However, Vodigy has a finger on the pulse when it comes to the latest cybersecurity and tech news. We can help you to stay prepared and ready for any technological challenges.
Reach out today to get started with a free assessment!
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