Privacy is a huge concern, no doubt about it. But it all comes down to power being very unevenly distributed - all 488 private unicorns combined are worth less than Apple, Amazon or Microsoft alone. The tech titans who know everything about us have control over entire markets and have been swallowing the companies that pose them any competition.
With countless reports on the issue, the US Congress was finally prompted to act. Back in July, the highest-profile hearing into antitrust since the 1970s took place and the CEOs of Amazon, Apple, Facebook and Google were summoned to own up for their questionable practices. As for the EU, which has been even more assertive in relation to Big Tech abuses, a new regulatory framework is on the way. With the Digital Services Act, tech giants would have to share their data with small competitors, preventing them from getting away with their monopoly tactics. But is it enough? Only time will tell.
For now, some action is already in motion and a Coalition for App Fairness was born - from the joint efforts of Epic Games, Spotify, Basecamp, Match Group, among others - to stand up to Apple’s rules for distributing apps on iOS and call out on the need of having a code of conduct.
All things considered, I truly believe the tech industry has brought (and will continue to bring) much more good than harm to society. However, I also feel we have to wake up and start establishing some boundaries to the ‘growth at all costs’ mindset that has been around for longer than desirable. So, if you work in tech, you should be proud of the industry you're part of, and attempt to change it from within.