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Could X go bankrupt under Elon Musk?
(www.bbc.com)
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this post was submitted on 03 Dec 2023
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The fact it hasn't imploded a long time ago is proof that digital platforms need to be regulated to enforce interoperability.
Since this shitshow started, I have not heard from anyone that wanted to be on Twitter. In anything resembling a free market, these customers (both advertisers and users) could freely go to a competitor.
But due to the way platforms work, no one can compete, once a dominant platform emerges. A platform has a monopoly on all the things people built on top of the platform (content, software etc.). This monopoly kills the free market. Enforced interoperability would reduce this platform effect and help out competitors.
The EU is starting to tackle that, with the Digital Markets Act, but very few companies are targeted so far, even though the whole industry is plagued by quasi-monopolistic platforms that are universally agreed upon to be trash.
That's called regulation, and is supposed to happen.
We have a problem of regulatory capture, plus these platforms acting like both publisher and platform with no courts taking them to task for it (applying the regulation).
Sure, yeah. The way I imagine this would work out best for humanity, is if companies are forced to open up platforms they provide, when they have e.g. more than 40% market saturation with that.
Most small platforms will want to strive for interoperability with the dominant platforms anyways, so this threshold is just to keep the burden of regulation low.
In practice, this might mean that Twitter would be forced to allow federation with Mastodon.
Or that Microsoft is forced to open-source the code for the Windows API.
Or that Reddit is blocked from closing up their third-party API.
Ultimately, I don't think, it even needs to be as concrete. I feel like even a law stating that if you're providing a platform, you need to take special care to keep competition alive (along with some detailing what this entails), and then leaving it up to a judge to decide, would work.
The GDPR is implemented like that and while most larger companies are IMHO in violation of the GDPR, I also feel like most larger companies actually did go from atrocious privacy handling to merely bad privacy handling, which is an incredible success.
That's effectively all I'm hoping for, too. That dominant platforms can't just stagnate for multiple decades anymore. That they do have to put in at least a small bit more effort to stay in that dominant position.