Europe Considers Implementing 'Glass-Steagall' for Big Tech

Big tech companies such as Google and Apple are set to face extensive new regulations in Europe, marking the largest expansion of regulations in the western world since the financial sector restrictions following the market crashes of 1929 and 2008. The new laws, including the Digital Services Act, will require designated "large online platforms" to share data with authorities, follow a code of conduct, and undergo risk management and independent auditing. Some measures will take effect immediately, impacting user search and shopping, while others may take years to be fully implemented. Companies like Google and Amazon have already taken steps to comply with the upcoming regulations, such as introducing a "choice screen" for smartphone web browsers and implementing channels to flag potentially illegal goods and content.