In this era of rapid technological development, some companies have gained enormous size in the market place. Since a functioning market economy requires open and fair competition, the question arises whether the size of these big tech companies gives them an unfair advantage over new and smaller firms. Many lawmakers ask how to deal with these kinds of issues without hurting the consumer interests or the international standing these firms give to the U.S. Those who prefer to break these companies into mini-companies are going towards an extreme approach that will hurt the global economy. Instead, better government regulations in different arenas of the businesses of these big tech companies is the way to go, which will be a win-win situation for both the government and the companies themselves.

The first area where regulation is needed is content moderation on the tech platforms, especially in the case of Google and Facebook. Given the high vulnerability of social and streaming platforms to communicate fake news, conspiracy theories, and radicalization, there is an urgent need for the government to make new laws that sets the boundaries on the type of content that is acceptable, without stifling the right of free speech guaranteed by the U.S. Constitution.

The second area that requires regulation consists of various unfair practices adopted by these firms. For example, Apple charges 30% fees on the subscription purchased through its app store, which has led to many app developers suing Apple, as they regard it as an abuse of the marketplace that Apple has. Similarly, Amazon beats its competition by lowering the price of a particular product to such an extent where it can sustain the losses due to its share of the marketplace, while its competitors cannot, giving Amazon an unfair advantage over other retailers. A regulation needs to be put in place so that there can be a level playing field for all the participants in the market.

The third area where regulation is required is the acquisition and merger of different firms. Many of these big tech companies acquire potential rivals in their infancy so that they do not become too big, and threaten their market dominance. A regulation needs to be put in place where rules should be transparent for future acquisitions without the breakup of these big tech companies.

At the end of the day, the breakup of these companies will hurt the geopolitical standing of the U.S. Implement sane/proper regulation, without hurting the tremendous benefits these companies provide to a regular consumer.