In the world of antitrust nothing has ever been as hotly debated as the Digital Markets Act (DMA), which was passed just before the summer break. Now, as vacation season is coming to a close, the discourse on competition policy in digital markets is again picking up speed, not only in the EU, but almost everywhere in the world. The countries in which tech barons have nothing to fear from new competition law requirements are becoming fewer and fewer. While Silicon Valley was until recently considered a safe haven, the Biden administration now seems to mostly support the European Commission's ambitions, encouraging a comeback of the market structure-based understanding of competition. A remarkable development, considering this approach was banned from American antitrust policy nearly two decades ago. Just recently, the White House unveiled six principles to reform Big Tech platforms, including promoting technology sector competition, increasing transparency about platforms' algorithms and ending discriminatory algorithmic decision-making. The European zeitgeist that competition in these markets cannot be sustained without direct state intervention thus seems to have crossed the Atlantic. And while it will take some time before the DMA actually has an impact in the EU, it can already be said that the new law has become a Magna Carta of digital antitrust law and – as such – ushers in a new era for tech regulation around the world.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
