Last week the UK's CMA Chairman Andrew Tyrie unveiled a digital markets strategy to set out how it will protect consumers in the rapidly developing digital markets of today's age, while fostering innovation and championing the cause of British and European business on the Internet.
This is the body what assesses tech mergers and regulates online reviews and comparison websites. It's not an easy job by any stretch. One of the first things they've identified they'll tackle is online platforms, on which they'll conduct a new market study (announced last week) examining Facebook and Google, and anyone else funded by digital advertising.
The sources of any market power are going to start becoming an important part of how digital competitors are viewed and measured. If the way these companies collect and use personal data is viewed to be non-competitive, or anti-consumer, they will be held accountable. And competition in digital advertising is going to start to be measured for whether it is producing good outcomes for consumers.
Tyrie wrote about the strategy that "Much about fast-changing [digital] markets is a closed book to most people. The work we do will open them up to greater scrutiny, and should give Parliament and the public a better grip on what global online platforms are doing."
It will be nice to see where we can go. Let's change the Internet, o' ye, of the governing bodies.
Yours in HAT,