On Monday, Microsoft Corporation
This is good news for its rivals, Zoom Video Communications Inc
Microsoft dodged the Big Tech crackdown with Bing
Its Bing search engine, along with Edge web browser and advertising services avoided the strict new rules the European Union imposed on Big Tech by not being dominant enough to face the Digital Markets Act. Apple Inc
Regulators are also looking into AI activities
In January, the Federal Trade Commission opened an inquiry into the multibillion-dollar investments that Microsoft, Google and Amazon.com Inc
The ties between Big Tech and startups have been facing increased scrutiny since the OpenAI scandal in November, when the company's board ousted the CEO, after which Microsoft offered to hire Sam Altman and his team. Although Altman ended up returning to OpenAI, concerns were raised about Microsoft's influence over the startup. As of November, Microsoft does have a seat on the board with its 49 percent stake, but not the power to vote. Microsoft invested $13 billion in OpenAI, while Amazon committed to invest up to $4 billion in Anthropic, followed by Google who committed to invest more than $2 billion.
A new era for Big Tech
It's no secret that regulators have been slow in addressing the harmful effects of Big Tech on the economy. But, with the Digital Markets Act, they showed their determination to get ahead of the issue for a change. At the very least, 2024 kicked off by forcing Big Tech to bend to new online market rules.
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