How new digital regulations affect microbusiness will be unknown territory unless the actual antitrust legislation is passed.
“In Congress, lawmakers face an increasingly tight window ahead of the 2022 midterms to pass sweeping legislation aimed at curbing alleged antitrust abuses by the tech giants, addressing social media harms, and giving federal enforcers more tools to police the sector.”
This statement, from the Washington Post, comes after Frances Hougen, known as the Facebook Whistleblower, wrote letters to the SEC regarding the company’s operations. Because of it, lawmakers started pushing to have certain legislation passed.
According to The Washington Post there are three key battles to watch for in 2022:
– The new antitrust laws on Capitol Hill which aim at reining in big players in the tech world.
– Secondly, addressing FTC’s power to crack down on privacy abuses and algorithmic discrimination by tech companies.
– And third, a further push to regulate social media that aims at protecting children and teens on social media and the internet.
BUT, What does this mean for micro-business owners?
Social media and the internet are key in how micro-businesses market their products and services. Therefore, having certain regulations put in place will mean that there will be stricter guidelines on posts and searches on social media coupled with the privacy of your business is better protected.
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Hopefully, This will create a beneficial shift in the digital world for micro-business owners.
Let’s see what happens.
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