Tom Wheeler

And so the Digital Services Act will deal with the UK, I'm sorry, the EU just passed, will deal with content issues.

The Digital Markets Act will deal with marketplace behavior issues.

We're about to see passage of the Data Act by the EU.

We're about to see passage of the AI Act by the EU.

and now that the uk is out of the eu they're doing similar things and in an interconnected world which is what the internet has delivered what happens in the eu or the uk

has a very real impact on what happens in the United States.

This is not a situation where we go clone what worked before.

You know, when I was running the Federal Communications Commission,

One of the biggest challenges was that the statute which created the agency and created the rules under which the agency operated was written in 1934 when television didn't even exist.

And it was updated in 1996 when the internet was AOL.

And so one of the big challenges that I faced and that all regulators face is how do I take a set of rigid statutory and structural realities that were made rigid back in a time that was vastly different from today and relate them to today?

And so we need to say, again, like I was saying before, never-before-seen challenges, never-foreseen solutions.

We need to be as innovative as the companies themselves in how we come up with solutions to the challenges that are created.

What about if we just collected the information that's necessary to conduct the transaction that doesn't include your location and the last eight sites that you went to?

But that's what gets collected.

Well, you know, we have a collection of digital technology-driven companies.

that have done some absolutely amazing things and in the process have built themselves to be dominant companies so four of the five most valuable companies in the world are what you might call

american big tech companies apple microsoft alphabet and amazon and meta comes in at number six

Well, there's nothing wrong with being big.

Let's start right there.