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Europe is in danger of regulating its tech market out of existence
(foreignpolicy.com)
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Fully agree. Specially on what you said about the Fediverse - the GAFAM exploits network effect walls a fair bit, to lock users in, and federation brings those walls down.
And, without those walls, it's also hard for any specific government (be it China or USA or any other) to have hegemonic control over it.