Internet Association Endorses Internet Censorship Bill
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Re: Internet Association Endorses Internet Censorship Bill
#2>Amazon and eBay would be able to absorb the increased legal risk under SESTA. They would likely be able to afford the high-powered lawyers to survive the wave in lawsuits against them. Small startups, including would-be competitors, would not. It shouldn’t pass our attention that the Internet giants are now endorsing a bill that will make it much more difficult for newcomers ever to compete with them.
All banks have to comply with Know Your Customer regulations, which is easier for bigger banks than smaller ones. And yet society has deemed that combating money laundering and tax evasion is worth the cost. It'll be fine. Just raise more capital from your investors, it's essentially free these days.
The more interesting story with this law is more of a meta story. Here we have a change to a bedrock law that for over 20 years has granted the tech industry immunity from any liability for anything on their platforms. Which is just kind of amazing if you think about it. Imagine if the energy industry didn't have to deal with EPA regulations or manufacturing companies didn't have to deal with OSHA regulations. The political winds are starting to shift and the tech industry is increasingly going to be held responsible for the negative externalities they create.
Re: Internet Association Endorses Internet Censorship Bill
#3Things like this that worry me and make me diametrically opposed to any of the big company employees holding seats of authority at any body residing over any spec or working groups as well. They'll never have the user's interest at heart.
Re: Internet Association Endorses Internet Censorship Bill
#4>Amazon and eBay would be able to absorb the increased legal risk under SESTA. They would likely be able to afford the high-powered lawyers to survive the wave in lawsuits against them. Small startups, including would-be competitors, would not. It shouldn’t pass our attention that the Internet giants are now endorsing a bill that will make it much more difficult for newcomers ever to compete with them. All banks have…
God, this mindset is disgusting. What if I don't want to make the kinds of toxic growth-addict business that venture capital leads to? As for banks, why don't you take a hard look at what banking monoculture has given society?
Re: Internet Association Endorses Internet Censorship Bill
#5>Amazon and eBay would be able to absorb the increased legal risk under SESTA. They would likely be able to afford the high-powered lawyers to survive the wave in lawsuits against them. Small startups, including would-be competitors, would not. It shouldn’t pass our attention that the Internet giants are now endorsing a bill that will make it much more difficult for newcomers ever to compete with them. All banks have…
All to make the powerful(AKA monopolistic oligarchy of corporations) even more satiated with control.
Re: Internet Association Endorses Internet Censorship Bill
#6Things like this that worry me and make me diametrically opposed to any of the big company employees holding seats of authority at any body residing over any spec or working groups as well. They'll never have the user's interest at heart.
It's regulatory capture we're living with.
Re: Internet Association Endorses Internet Censorship Bill
#7>Amazon and eBay would be able to absorb the increased legal risk under SESTA. They would likely be able to afford the high-powered lawyers to survive the wave in lawsuits against them. Small startups, including would-be competitors, would not. It shouldn’t pass our attention that the Internet giants are now endorsing a bill that will make it much more difficult for newcomers ever to compete with them. All banks have…
>society has deemed that combating money laundering and tax evasion is worth the cost.
I'm not sure that's the case, there's definitely many who would disagree, and even some banks. Complying with these regulations is very expensive and there's not a ton of evidence for how effective they are. Obviously they help sometimes, but the signal to noise ratio is likely very poor and they're not very cost-effective for the amount of overhead involved.
In addition to banks, money services businesses must comply with these regulations - people have gone to jail just for selling bitcoin for cash because they didn't do KYC/AML. Of course, no one related to banks goes to jail no matter how bad their compliance is.
Relating this to the original article a bit more, it's likely that these things will be abused very badly, with small players going to prison and big players only paying minor fines at worst.
Re: Internet Association Endorses Internet Censorship Bill
#8>Amazon and eBay would be able to absorb the increased legal risk under SESTA. They would likely be able to afford the high-powered lawyers to survive the wave in lawsuits against them. Small startups, including would-be competitors, would not. It shouldn’t pass our attention that the Internet giants are now endorsing a bill that will make it much more difficult for newcomers ever to compete with them. All banks have…
All to make the powerful(AKA monopolistic oligarchy of corporations) even more satiated with control.
This law is very clearly designed to tackle a negative externality from tech companies. It could have been more expansive, but it's limited to just sex trafficking.
Governments have antitrust laws to handle monopolies. If you're concerned with concentration (as I am), you should support more aggressive antitrust enforcement (and political candidates that do).
Re: Internet Association Endorses Internet Censorship Bill
#9>Amazon and eBay would be able to absorb the increased legal risk under SESTA. They would likely be able to afford the high-powered lawyers to survive the wave in lawsuits against them. Small startups, including would-be competitors, would not. It shouldn’t pass our attention that the Internet giants are now endorsing a bill that will make it much more difficult for newcomers ever to compete with them. All banks have…
God, this mindset is disgusting. What if I don't want to make the kinds of toxic growth-addict business that venture capital leads to? As for banks, why don't you take a hard look at what banking monoculture has given society?
Then don't? VCs aren't the only source of capital. I also have no idea how you could say the US has a "banking monoculture". There are almost 5000 banks in the US.
Re: Internet Association Endorses Internet Censorship Bill
#10As soon as I see a "protect the x" bill with bipartisan support, my knee jerk reaction is to mistrust it