Time to rein in power of big tech, Auckland professor says

A University of Auckland professor is advocating for regulation to curb the influence of major tech companies, drawing parallels between these corporations and historical examples of immense corporate power. Professor Susan Watson argues that companies like Amazon, Meta, and Google have transcended traditional market competition, now wielding significant control over essential digital infrastructure and platforms.

Their influence extends to governments as well, often lobbying against laws that could restrict their activities and positioning themselves as customers or partners for their technology. Watson's paper suggests that history is repeating itself with powerful global businesses, referencing the East India Company's excessive power-granting and the subsequent regulation during the Gilded Age in the late 19th century.

The paper also touches on the impact of artificial intelligence tools, which Watson contends should not be referred to as artificial intelligence but rather recognized for what they truly are - assets of a few tech titans. Watson emphasizes that corporations are legal entities created and empowered by the government, capable of owning property, entering contracts, and generating wealth over time.

In her proposed solution, Watson suggests banning surveillance-based business models, limiting data claims, and licensing major platforms with attached conditions. She also proposes giving those affected by these companies a greater say in their governance, drawing inspiration from New Zealand's Whanganui River, which was granted legal personhood.

Watson argues that issues raised by her paper should be part of ongoing discussions about big tech's power, noting that regulation is often reactive and could potentially fail to prevent catastrophic consequences.