A promising solution to controlling the \"power of the tech titans\" might be...

Question

A promising solution to controlling the "power of the tech titans" might be...

A. Ensuring that consumers retain property rights over their data that is revealed in online exchange

B. Dismantling of major tech firms, such as Amazon, Facebook and Google, by the securities and exchange commission for abuse of their market power

C. The creation of a government-backed social media platform & search engine alternative that would inject artifical competition into the internet marketplace

*This question requires some knowledge about the tech titans

Explanation / Answer

A promising solution to controlling the "power of the tech titans" might be...

A. Ensuring that consumers retain property rights over their data that is revealed in the online exchange.

The power of the tech titans lies in how tech markets work. The consumer uses the technology in exchange for their personal information and the company retains the right to use the data in whichever manner they like. This right over the information also acts as an extra source of revenue.

If this right remains with the consumers the tech giants are likely to feel handicapped because of the increasing dependency on the consumers.

Also, it will ensure that the new entrants, the startups will find it easier to enter and sustain in the market. Thereby, increasing the competition in the market and reducing the power of the giants.

The dismantling of the Major tech giants is difficult because it will reduce the economies of scale for the firm thereby worsening the quality of the services offered to the consumers.

The creation of the government-backed social media platform is difficult to turn into a reality because of the increasing popularity of these tech giants amongst the consumers will discourage them from using the new government-backed social media platform. This will negate the whole purpose of inducing the artificial competition.

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