Curbing Facebook, Google's access to data may not affect their monopoly

Google’s recent record €4.3 billion (£3.9 billion) fine is the latest action in a growing movement to tackle the dominance of big tech firms. Until now, most attention has been on the impact of this dominance on privacy, for example, the recent Cambridge Analytica scandal that saw Facebook criticised for failing to tackle the unauthorised use of user data by a political campaigning firm. As a result, some analysts and commentators have called for users to be given more control over their information. But this is a serious mistake.

Google and Facebook make money from their monopoly of our attention, not their access to our personal data. Even if, starting tomorrow, they had no access to our personal data for the purposes of targeting ads, they would still be dominant and hugely profitable because they can advertise to so many people, just like TV networks once were.

US lawmakers demand Facebook to come clean over Chinese data sharing

Facebook Inc faced criticism on Wednesday from Republican and Democratic US lawmakers who demanded that the social media company be more forthcoming about data it has shared with four Chinese firms. 

The bipartisan criticism reflected rising frustration in Congress about how Facebook protects the privacy of the more than 2 billion people who use its services worldwide. The leaders of the U.S. House of Representatives Energy and Commerce Committee accused Facebook Chief Executive Officer Mark Zuckerberg of failing to disclose the company’s agreements with the Chinese firms when he appeared before them in April and testified about Facebook’s sharing of users’ personal information with third parties.