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THE RISING MONOPOLY OF INTERNET GIANTS

YB WEB DESK. Dated: 2/22/2021 1:01:57 PM

After the series of events trickled down in Australia lately concerning the tense tussle between the Australian government and Facebook, the underlying concern towards a monopolised environment by the giant tech and other corps and MNCs surfaced yet again, alarming the bells of numerous governments and their people throughout the globe. Though such tussles arise once or twice in every two or three years in various parts of the world, this issue has never received the due importance and introspection it so duly deserves given the immense severity of this problem which can very well turn out to amplify itself to a stage where the situation may get out of hand. Most MNCs and tech giants, amongst other influential corporations, hold an influence over the government decisions and policies to a minute or maybe even a certain significant degree in some select regions given the level of diversity of the root cause, which is dependent upon the transparency, corruption levels and the degree of democracy prevailing through that specific region or country. Yet giants like Google and Facebook, which are largely responsible for monopolising a majority of the internet used by the general masses, hold a great chance to influence our decisions and thoughts if left without any due intervention by any regulatory authorities. In Australia’s case, though Google ended upon agreeing for a potential deal with the government and media houses, Facebook wasn’t even reluctant to defy the authorities concerning any agreement. This situation does highlight the sheer global power and influence Facebook holds at present despite having numerous records of violating various public privacy laws in the past. Accountability is vital in every aspect of public domain in order to ensure the maintenance of privacy, either online or offline, for the general masses around the globe. The ever-rising power of giants like Facebook, Twitter and Google may undermine the importance of personal information, posing the same as mere company data or analytics for such firms. It can prove to be lethal for the democratic world with free speech and information.