Trampled by Unicorns

CHAPTER 12Tax, Privacy, and Other Running Sores

When it comes to regulating tech companies, intent matters far less than the outcome. There are no prizes for talking a good game when it comes to reform. Results are all that matter. The vast majority of founders didn't set out to create the harmful effects we've ended up with today. The same goes for most employees. It doesn't change the fact that they should be held accountable for the results of their actions.

We must also cut governments and regulatory bodies a little slack. Never before have companies reached such scale so fast, and overseeing an ever-shifting sector, an industry that is steadily reinventing every aspect of our lives, is a daunting task that takes time to get right. Consider this for a moment: the first petrol-powered car was invented in 1885. In the U.S., the first law making the installation of seat belts compulsory for manufacturers was passed in 1968. The first law making them required for drivers in 49 states took nearly another 30 years. It's still not compulsory for over-18s in New Hampshire. I'm often perplexed by people who seem to expect perfection from legislators and complain, for example, about GDPR (General Data Protection Regulation, Europe's data protection and privacy regime), and yet allow genuine leeway to tech giants as they chart their course through trial and error. It's absurd to expect the public sector to get it right the first time. The pace at which tech is evolving means that ...