Europe's approach to the tech industry seems to be: “If you can't innovate, regulate,” writes Withrow.

Withrow: Don’t stifle US tech innovation with European rules

After a year of constantly stalking tech companies and internet platforms, it’s no surprise that a bipartisan group of senators — Republicans Lindsey Graham and Josh Hawley and Democrat Elizabeth Warren — are crafting a proposal to regulate, or even authorize, all social media companies. .

Some have gone further and insisted that there should be a dedicated regulatory agency to oversee “Big Tech” more generally, and Democratic Senator Michael Bennett has introduced a bill to create such an agency.

Europe's approach to the tech industry seems to be: “If you can't innovate, regulate,” writes Withrow.

Graham – like many before him – suggested that the United States should have a technology regulatory system comparable to Europe’s. Indeed, many critics of the big US tech giants have pointed to European Union (EU) regulations as a sign that we are “falling behind”.

The fact that Europe has preceded us in its attempts to become the world’s regulators of technology does not mean that it is an example to follow. On the contrary, the European Union’s (EU) propensity for precautionary regulation is one reason why almost none of the big tech companies it aims to govern are truly European.

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