EU to be one of most profitable markets for US technology companies
19:42
The European Union is one of the most profitable markets for American technology companies. There is recognition on both sides of the Atlantic of the pressing need for deep regulatory change for online platforms and the digital marketplace.
Both the European and US legal frameworks governing the digital marketplace are more than 20 years old. For such a rapidly growing and constantly evolving sector, this represents a colossal delay. The breakthrough is expected to come in the form of the Digital Markets Act (DMA) and Digital Services Act (DSA) recently agreed upon by the EU institutions for online platforms.
A delegation from the European Parliament arrived in San Francisco on Monday to spend the next few days meeting with representatives of the largest technology companies in Silicon Valley. These include corporations such as Google, Meta (Facebook, Instagram, WhatsApp), Apple, Airbnb, eBay, Paypal and Uber. Also on the agenda are talks with local authorities and academia.
MEPs are expected to look at the latest developments in the digital market in the United States.
