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Session

Face-Off: How To Make Big Tech Fight Each Other for the Public Good

Technology Presented by CommBank

Face-Off: How To Make Big Tech Fight Each Other for the Public Good

About

Big technology companies are increasingly competing - Threads has disrupted Twitter, now X. Netflix now competes with Binge, Paramount+, Disney+, Hulu, Amazon Prime, HBO, Apple TV, and more. ChatGPT is now competing against Google's Bard, Microsoft Bing and Claude.

There are however, large swathes of major market dominance and lower competition, think of the iOS App Store, which takes a 30% cut of the revenue of any app on its platform that makes more than $1m per year.

So who gets to own the internet? What opportunities are there for new tech companies to compete with the old? Are there new models, beyond network effects, that can help fuel innovation?

On the regulatory side, we need to think creatively about how we incentivise competition in tech so that we get better stuff, that is less harmful, for cheaper.
This matters for everyone: combatting monopolies will help prevent poorer products, poorer privacy standards, and more expensive prices. And there is nuance to how we trade off the economic (and social) benefits between innovation and competition.

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