Displaying items by tag: data

(San Francisco)

Apple’s CEO Tim Cook went on the record yesterday telling the market that he feels pending regulation of the tech sector is inevitable. Cook has been a recently strong critic of the data abuses exhibited in the sector. He argued that the free market is not doing its job to protect privacy and that governmental action is necessary. In cook’s own words, “Generally speaking, I am not a big fan of regulation … I’m a big believer in the free market. But we have to admit when the free market is not working. And it hasn’t worked here. I think it’s inevitable that there will be some level of regulation . . . I think Congress and the administration at some point will pass something.

FINSUM: We have to agree with Cook about the likelihood of regulation here. The financial incentives for companies are not aligned with protecting privacy, so the government would likely need to step in to make that happen.

(Washington)

While all the focus is on a possible trade war between NAFTA countries, and possibly, with China, there is another area where President Trump is trying to counter the rising power of Beijing. That area is in technological development. New reports out of the White House indicate that the president and his team consider the development of a 5G mobile data network of critical importance to combating China’s investments in the same area. The White House considers its development so crucial that it likened the need to the US’ effort to build the interstate highway system in the mid-20th century.

FINSUM: The scope of why the administration feels this way is not immediately clear, but what is clear is that America’s telecom industry is poorly suited to developing 5G because of its oligopolistic structure and lack of domestic manufacturers.