The European Union’s top competition regulator said Sen. Elizabeth Warren
Elizabeth WarrenOver 80 lawmakers urge Biden to release memo outlining his authority on student debt cancellation Kelly pushes back on Arizona Democrats' move to censure Sinema Fiscal conservatives should support postal reform MORE’s (D-Mass.) proposal to break up large tech companies should only be considered as a “last resort.”
Margrethe Vestager, the EU competition commissioner who has been cracking down on U.S. tech giants, said in an interview on the “Recode Decode” podcast that Warren’s plan would be a step too far.
Warren’s proposal, released earlier this month, outlined steps she would take to dismantle tech giants like Amazon, Apple, Facebook and Google. The 2020 presidential candidate is among critics who argue that the companies have grown too large and wield outsize influence over markets and political systems around the world.
The tech industry has pushed back on her proposal, saying it would hurt consumers and the economy.
Vestager, who is no friend of the tech giants, has hit Google with back-to-back multibillion-dollar antitrust fines for allegedly using its dominance in search and mobile operating systems to suppress competition. Another EU fine against the search giant is expected this week.
The EU is also investigating Amazon’s effect on third-party vendors.
In the interview released Monday, Vestager said she’s confident that tough oversight of the sector will continue after her term ends in November. She also said that if Silicon Valley sees her as an adversary she would consider that a “badge of honor.”
“I think what we do is a reflection of the fact that we want our democracies to set the direction for our society and not for the businesses to set the direction for our society,” Vestager said.
