EU to consult on making Big Tech contribute to telco network costs
reuters.com
reuters.com
Sounds like a great plan to increase revenue to introduce rent seeking in addition to expensive and oversubscribed internet.
Their over exuberance in wanting to push through idiotic regulation that serves as nothing more than a burden on innovation is the stuff of legend. It is no wonder that even with all the genius talent in the continent, it is very hard to find a handful of large, successful tech companies as we do see in Asia or the Americas.
The older bureaucrats need to either get out of the way or wisen up to the period of change the world is going through. Acts such as these will seem intelligent in the short term as they add to the revenue of legacy industry that the EU seems intent on protecting, but the costs to economic growth in the long run from the missed opportunities of investing and nurturing smart talent is going to be too costly to bear.
I'm hopeful that the EU will see the error of their ways, it would be too much of a shame to watch all the intelligent people there suffer on account of yet another short sighted political decision such as this.