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> obvious why a country would not want their biggest media providers to be foreign-owned.

And yet many countries have no objection with letting their citizens use US FAANG services?

They should, and they should develop home-grown alternatives to these services. It's not that Tiktok shouldn't be banned, it's that Facebook and Twitter should also be banned. Megacorps should to be destroyed up regardless of their nation of origin.
> Megacorps should to be destroyed

In your view:

a) what is a megacorp (criteria), and

b) why do you think they should be destroyed?

For reference, the largest 15 companies in the world, by:

- Market cap are: Apple, NVIDIA, Microsoft, Alphabet, Amazon, Saudi Aramco, Meta, Tesla, Broadcom, TSMC, Berkshire Hathaway, Walmart, JPMorgan, Eli Lilly, Visa

- by # of employees: Walmart, Amazon, Foxconn, Accenture, VW, Tata, DHL, BYD, Compass, Jingdong, UPS, Gazprom, Home Depot, JD Logistics, Agricultural Bank of China.

- by earnings: Saudi Aramco, Berkshire Hathaway, Apple, Alphabet, Microsoft, NVIDIA, JP Morgan Chase, Meta, Amazon, ICBC, China Construction Bank, China Pacific Insurance, Exxon Mobil, Agricultural Bank of China, Toyota

https://companiesmarketcap.com/

A) I'm flexible on the exact numbers here, but a starting point for discussion could be a company with more than 20% market share in a total market above 1% GDP. I admit that finding an effective standard that can withstand legal scrutiny is the hard part here, and we should work on improving it once we agree that megacorporations should be destroyed. I am still looking for a good way to cover vertical integration and other multi-market failure cases, for example.

B)

- Small business should be the driving force in the economy. They are the wellspring of competition and the bastion of the middle class.

- Megacorporations seek to destroy the ability for small businesses to compete with them, leaving buyout or vassalage as their only possible endgame. This shuts down true competitive threats to the megacorporations' dominance. They are trying to pull up the ladder behind them.

- A company should not be so large it can afford to ignore its customers.

- A company should not be so large that it can treat regulatory fines as merely a cost of doing business.

- A company should not be so large that it gets to write the laws and regulations.

- The Monopoly standard is not strict enough. Cartel-like oligopolies cooperate on the important political issues while maintaining a facade of competition.

- Our political systems are not equipped to handle the centralization of such large amounts of wealth. While the economy may not be a zero-sum game, power is, and power follows money.

- ADDED: A company must not be too big to fail.

- ANOTHER: A company should not be so large it can use loss-leaders to bully its way into other markets.

I don't think megacorps should be "destroyed". On the other hand, I do think that a whole lot of those countries grew up taking advantage of mechanisms and data that they seek to exclude others from having by use of their market power and restrictive contracts, and this should be prevented.

E.g. back to Meta, etc: they scraped everything, everywhere for a long time, and it was a big factor that lead to their rise. Now they seek to control all the data in their fiefdom, and use the power of the legal system to enforce EULAs to prevent others from doing the same.

Why? Because economic entities with market power underproduce, overcharge, and fail to innovate and meet their customers' needs. They cause deadweight losses through their inefficiencies. And an excess of concentrated power is just plain scary, whether an individual, a corporation, or a government wields it.

Of course, reducing some of the edge of market power at scale will result in a smaller maximum company size.

Those criteria seem pretty good. All those companies should be broken up and required to make certain divestitures until they no longer to-big-to-fail, oligarchical, anti-competitive etc.
Pretty much every country where it is economically viable to build an alternative has an alternative to these platforms that they aggressively push on their citizens.

Europe may be an exception, but that is what you get when the US is your suzerain.

> but that is what you get when the US is your suzerain.

Hopefully the next 4 years help change that.

yeah can’t get too many people working on the same thing or creating value, that’d be bad and we’d have to destroy it
China bans them. Europe, Canada and Australia are constantly trying to regulate the media parts of the business. If they had the capacity to built an alternative (like china) a ban or forced divestiture doesn’t seem that out there.
Every country on earth "has the capacity" to build alternative social networks. They just don't because the need hasn't become obvious enough yet.
I would not be surprised if governments pushing back against all foreign social media is a major theme of the decade. America is basically saying to the world right now foreign social media companies are a major risk. The global reach of America's social media companies could be coming to an end.
They’re only saying this specific one is and how long did it take for that to pass through legislature and courts?

It’s not always a slippery slope. And China's use of soft power via strict governmental control of its corporations isn’t an imaginary boogeyman.

No, they set up a framework where any other such case can be easily included in the ban. The executive order doesn't even name TikTok, except when referring to now-revoked previous things it revoked.

> (d) The Secretary of Commerce shall evaluate on a continuing basis trans- actions involving connected software applications that may pose an undue risk of sabotage or subversion of the design, integrity, manufacturing, produc- tion, distribution, installation, operation, or maintenance of information and communications technology or services in the United States; pose an undue risk of catastrophic effects on the security or resiliency of the critical infra- structure or digital economy of the United States; or otherwise pose an unacceptable risk to the national security of the United States or the security and safety of United States persons. Based on the evaluation, the Secretary of Commerce shall take appropriate action in accordance with Executive Order 13873 and its implementing regulations.

The set of countries that don't actively object to that is a strict subset of the countries the TikTok bill would have allowed TikTok to continue operating from if ownership had been passed to them.

This was a bill only against China, North Korea, Russia, and Iran. None of whom allow particularly free access to the internet.

For example the Facebook article on "Censorship of Facebook" lists all of those countries as well as Myanmar, Turkmenistan, and Uganda as the only countries that "continually ban access" to facebook.

The countries targeted by this law (China, North Korea, Iran, Russia) generally do have objections to their citizens using US services.
Not that it's the only factor, but don't forget that for many countries, seemingly going "against" the US is very hard. Whoever feels like the US never puts pressure on western countries is probably a US citizen.
Twitter/X had a hard time in Brazil recently and was temporarily banned. Meta is now feeling more intense pushback from Brazil's judiciary power.
> And yet many countries have no objection with letting their citizens use US FAANG services?

You're talking out of ignorance. The European Commission has been putting together initiatives to allow European cloud providers to emerge as credible alternatives to the FANGs in terms of providing infrastructure.

https://european-alternatives.eu/category/cloud-computing-pl...