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Comment by favflam | Hacker News Reader

I believe politicians in the EU are chomping at the bit to get a digital services tax implemented against US big tech companies. I think Silicon Valley tech titans really screwed the pooch here.

They are going to be big targets for trade retaliation and I am not sure how much help the US government will be able to offer. Moreover, if the administration changes, the Democrats will absolutely take apart these tech companies.

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The administration has screwed the pooch here, all trust built between the EU and US since WWII is effectively gone forever. The trust that allowed the EU to assume that the US was largely aligned with European standards and goals and that the US could be trusted as a long term partner for trade, supply our weapons systems, fly our satellites into space, provide our network hardware, our business operating systems, store our documents in the cloud, give us satellite broadband, the dollar as a reserve currency, store our gold, provide our social media platforms, share intel etc. etc. is gone forever. The EU now has no choice but to look internally first for anything that is that even has a whiff of strategic importance. Even if the current administration rolled back everything today the damage is done and the EU has no choice in how they proceed in the long term and has to manage and mitigate the long term risk of being dependent for so much externally.

America runs a large trade surplus in services, but unfortunately for the US quaternary sector only 1950s-style manufacturing counts in the minds of some key decisionmakers.

Looking at the situation from the shoes of a tech titan (Zuck, Musk, Bezos, etc), i almost see it as the lesser of two evils.

The problem they had was Lina Khan, who was dead set on breaking up their monopolies. They all decided to get into bed with the Trump admin and help het the guy elected, they all say it was for free speech but let’s get real it’s only because Lina Khan is no longer at FTC.

But now they have a different problem because Trump decided that tarrifs are a great idea and now they are going to take a massive hit over the next few years as folks outside the US increasingly look for non US cloud solutions.

The tech hate is bipartisan, however the tech companies got lucky that the Republican choice for President happens to be distinctly corrupt and easy to buy off with money and flattery. Additionally, his feelings are so easily hurt that Congress, which otherwise might implement bi-partisan tech legislation, is afraid of offending him for fear of being targets of his lashing out, so they're just sitting on the sidelines rather than legislating.

This is a unique set of circumstances; given any other combination of parties in power, with any different President, and they'd be in the bullseye right now.

> so they're just sitting on the sidelines rather than legislating.

Not really!! Many are schooling him these days, but he’s too dumb to understand anything

> The problem they had was Lina Khan, who was dead set on breaking up their monopolies.

Guess what? The breakup of their monopolies is still going to continue :-)

Free speech? Did Biden put a Bridle in their mouth to control their speech?

The breakup of their monopolies is still going to continue

You believe that, if it brings you comfort.

Yes, if Europe creates alternatives to American monopolies, they won't be monopolies any more.

> You believe that, if it brings you comfort.

DOW hitting 100k+ and one of each in 'Magnificient 7' reaching 10T+ valuation, one day trip to Mars (conditionally, it has water and oxygen) - will bring me great comfort. It doesn't work that way, my friend!! Many times reality is harsher than it is not. We have to face it regardless of comfort.

The Biden administration coerced social media and technology companies into censoring user content. There was an implied threat that if the companies didn't comply then the administration would hit them in other ways. This was a violation of the spirit of the First Amendment, although not technically illegal.

https://www.scotusblog.com/2024/06/justices-side-with-biden-...

(Yes, I am aware that other administrations have also attempted various forms of censorship so let's not waste time on whataboutism.)

Trying to control misinformation about an unfolding pandemic is not the same as this: https://pen.org/banned-words-list/

Public health is primarily a responsibility, not a culture war.

Nonsense. The desire to control misinformation does not in any way justify censorship. The ends don't justify the means. And much of the content that was censored (or shadow banned or whatever) was either factually accurate, or simply opinions.

The tech titans' problems with the Biden administration went beyond Lina Khan. They were upset about foreign taxes and fines, and felt that the Biden administration hadn't done enough to promote the interests of US tech companies abroad. There may be some buyer's remorse at this point.

> if the administration changes, the Democrats will absolutely take apart these tech companies.

I don’t know if it will happen though. Tech companies have a lot of cash and lobby power. But some kind of move is highly needed as the tech sector morphed into something despicable

Even from a practical point of view. Now, however ill-advised, you're in the middle of a trade war. It's probably taking a huge toll on your economy. Are you gonna mess with what are likely the last pillars of what economic stability you have left? I think medical/healthcare will not be able to be touched for a while. Tech will not be able to be touched for a while. And so on. They just provide too many jobs in an environment where jobs in other sectors will likely be insecure at best and disappearing at worst.

Like what, mess with social media and advertisurveilance? That will damage what's left? I really don't think so..

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