Why are we trying to regulate our way to innovation?

U.S. government officials are following in the European Union’s footsteps by attempting to set the rules for how American technology companies operate. In the EU, the Digital Markets Act (DMA) plans to usher in a new era of tech regulation worldwide, according to Andreas Schwab, the European Parliament’s rapporteur. Schwab wants to harmonize the EU and U.S. regulatory systems and sees the five biggest U.S. firms as the unquestionable targets for the DMA’s efforts. (The DMA mandates how U.S. technology companies that provide “core platform services” can and cannot operate within the EU).

Likewise, members of the U.S. Senate are pushing legislation down a similar path—namely with Sen. Amy Klobuchar’s (D-MN) American Innovation and Choice Online Act (
) and Sen. Richard Blumenthal’s (D-CT) Open App Markets Act (
). By mandating platform shifts through
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