Warning from Former National Security Officials, Breaking Up Big Tech Tech Could ‘Mortify’ Innovation And Grant China The Upper Hand

Warning from Former National Security Officials, Breaking Up Big Tech Tech Could ‘Mortify’ Innovation And Grant China The Upper Hand

The letter, signed by ten former national security officers including former acting CIA Director Michael Morell and former Secretary of Defense Leon Panetta, warned the series of antitrust bills advanced in the House Judiciary Committee in June risked advantaging Chinese technology companies by targeting U.S. firms. They argued the bills would harm innovation and diminish America’s “technological edge.”

Former intelligence community officials sent a letter to House Speaker Nancy Pelosi and House Minority Leader Kevin McCarthy expressing concern over recent big tech antitrust bills’ impact on U.S. innovation.

“Recent congressional antitrust proposals that target specific American technology firms would degrade critical R&D priorities, allow foreign competitors to displace leaders in the U.S. tech sector both at home and abroad, and potentially put sensitive U.S. data and IP in the hands of Beijing,” the officials wrote.

The House antitrust bills aim to regulate a number of tech companies’ perceived anticompetitive business practices, tightening laws governing mergers and acquisitions and preventing firms from preferencing their own services on their platforms. Officials argued the bills, by focusing on American companies like Google, Apple and Amazon, would advantage Chinese competitors such as Alibaba, Tencent and Huawei in global technology markets.

House lawmakers who championed the bills pushed back against the officials’ claims, arguing the bills would promote innovation through competition.

“These bills do not create new opportunities for companies controlled by China or other foreign bad actors” Nick Givas, spokesman for Republican Rep. Ken Buck who led the introduction of the bills along with Democratic Rep. David Cicilline, told the Daily Caller News Foundation. “Our bills will create competition and protect privacy rights for consumers.”
“These arguments are the same arguments that Facebook and Google have been making for a very long time in an effort to avoid regulation,” Rep. Cicilline told Axios.

The officials went on to cite the bipartisan Innovation and Competition Act as the type of legislation that would help the U.S. compete with China. The bill, which passed the Senate in June, invests over $250 billion in semiconductor manufacturing, artificial intelligence, robotics, quantum computing and other technologies.

“Rather than passing bills that cede U.S. tech leadership to China, we must build on America’s key advantages and ensure that the United States remains a technological powerhouse for decades to come,” the officials said.

The News Highlights

  • Warning from Former National Security Officials, Breaking Up Big Tech Tech Could ‘Mortify’ Innovation And Grant China The Upper Hand
  • Check the latest update on Security news
  • .

Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
Color Me Mine Cypress changes studio after 10 years on the market
Color Me Mine Cypress changes studio after 10 years on the market
Danica joined Community Impact Newspaper as a reporter in 2016. As editor, she continues to cover local government, education, health care, real ...
Bloodborne 2, Bloodborne PS5, and a Bloodborne PC port are all rumoured to be in the works
Bloodborne 2, Bloodborne PS5, and a Bloodborne PC port are all rumoured to be in the works
That sounds like a lot for one studio, and it’s worth pointing out that beyond a number of recent rumours, unsubstantiated word of various Bloodborne ...
The Golden Joystick Awards 2021 had Metroid Dread, Zelda, Pokémon, and Mario all nominated
The Golden Joystick Awards 2021 had Metroid Dread, Zelda, Pokémon, and Mario all nominated
Golden Joystick Awards 2021 Nominations The Golden Joystick Awards 2021 have released its full list of candidates, and voting is now open.The Legend of ...
FREYR joins the  News Council for Sustainable Energy
FREYR joins the News Council for Sustainable Energy
Forward Looking Statements FREYR plans to develop up to 43 GWh of battery cell production capacity by 2025 with an ambition of up to 83 GWh in total ...
Homeland Security Secretary Alejandro Mayorkas Tests Positive for COVID-19
Homeland Security Secretary Alejandro Mayorkas Tests Positive for COVID-19
CBS News reporter covering homeland security and justice. Nicole Sganga This story is breaking and will be updated. The secretary was previously slated ...
Due of Facebook’s downtime, Telegram has reached a billion Android downloads
Due of Facebook’s downtime, Telegram has reached a billion Android downloads
On the Android download platform, Google Play Store, Telegram now counts more than a billion installations. A global success that allows it to enter the ...
USDA Rethinks Approach to Salmonella Control in Poultry
USDA Rethinks Approach to Salmonella Control in Poultry
So the U.S. Department of Agriculture plans to set up pilot projects to try changing the way it tests for salmonella in plants and to try encouraging the ...
Shortage of Cash for Dallas County Inmates –  News5 Dallas-Fort Worth
Shortage of Cash for Dallas County Inmates – News5 Dallas-Fort Worth
Questions about Dallas County Jail Commissary money have risen in the past. “One thing that I have great concern is the access to inactive inmate accounts. ...
I found an Amazon folder with thousands of audio recordings
I found an Amazon folder with thousands of audio recordings
TikToker my.data.not.yours explained: “I requested all the data Amazon has on me and here’s what I found.” A woman has been shocked to discover just how ...
Fox News anchor Neil Cavuto has Covid-19 and calls for vaccines
Fox News anchor Neil Cavuto has Covid-19 and calls for vaccines
The Associated Press contributed. Elisha Fieldstadt is a breaking news reporter for NBC News. He said he is “surviving” Covid because he is vaccinated. “I ...
Show next
Compsmag - Latest News from tech, business and health
Logo