Former Google chief executive Eric Schmidt said social media “excesses” could lead to more regulation of internet platforms in the years to come.
Schmidt, who left the board of directors of parent company Google Alphabet Inc. in 2019 but is still a major shareholder, said the U.S. government’s antitrust lawsuit against the company on Tuesday was incorrect , but in general there may be more regulation for social media.
“There is no reference to social media serving as amplifiers for stupid, crazy people,” Schmidt said at a virtual conference hosted by The Wall Street Journal on Wednesday. “Until the industry does its work together in a really smart way, there will be regulation.”
Google’s YouTube has attempted to reduce the spread of disinformation about Kovid-19 and US politics over the past year and with mixed results. Facebook Inc and Twitter Inc have also come under fire in recent years for allowing racism and discriminatory messages to spread online.
Schmidt also argues that Google’s enormous search activity – the goal of the US Department of Justice’s Antitrust suite – continues to be so successful because people choose it over its competitors, not its competitors. because it is its size to block smaller rivals. Uses.
“I will pay attention to these dominant arguments. I don’t agree with them, ”Schmidt said. “Google doesn’t have 100% market share.”