We Have Owned The Internet

In an interview published on Re/Code technology website this week, President Obama accused EU tech companies of being unable to compete with US tech companies and of colluding with the EU antitrust authorities to set up unjustified roadblocks designed to protect the EU companies' commercial interests.

Companies are increasingly incorporating whistleblowing and regulatory complaints into their commercial strategies.  More than 70% of cartel investigations in the EU are triggered by whistleblowers seeking immunity or leniency.  And investigations such as those now being undertaken into Tesco (for its profits overstatement and its treatment of suppliers), HSBC (in connection with allegations of facilitating tax avoidance), and Amazon (in connection with its tax status in the EU), serve to highlight the very significant costs/commercial damage associated with regulatory interventions.