The EU should focus on the top 5 technology companies, says the leading MEP

The EU lawmaker, who will lead the EU’s leading technology regulator through the European Parliament, has said it should focus on the top five technology companies in the United States.

Andreas Schwab, a German MEP and longtime critic of Google, spoke out after France and Germany both called on the EU to tighten its grip on Big Tech. He said Google, Apple, Amazon, Facebook and Microsoft were “the biggest issues” in EU competition policy.

“Let us first focus on the biggest problems, the biggest traffic jams. “Let’s get off the line – one, two, three, four, five – maybe six with Alibaba,” he told the Financial Times.

“But let’s not start from number 7 to attract a European goalkeeper just to have fun [US president Joe] “Biden,” he added.

The EU defines “gatekeepers” as companies that cover several countries, have a significant impact on the market, connect large numbers of users with large numbers of businesses.

His stance is likely to be seen as anti-American, while the EU is focused on rebuilding transatlantic ties.

Schwab is also part of the EPK, a powerful political bloc whose members include German Chancellor Angela Merkel and European Commission President Ursula von der Leyen.

Last December, Brussels unveiled its plan to address Big Tech’s market power. The new regulations set out the revenue and market share thresholds that would set Establish up to 20 companies as “gatekeepers”, including companies with offices in the EU, such as

But in a new report due to be released on Monday, Schwab called for higher levels of 100 billion euros in market capitalization, rather than 65 billion euros in initial bids, and 10 billion euros in euro turnover over the past three fiscal years. 6.5 billion

He defined the gatekeeper as a company that offers “two or more core platform services”, meaning that platforms like Booking, which mainly offer one service, will not enter the field.

“The sphere [Digital Markets Act] “They need to be clearly targeted at companies that play an undisputed role as gatekeepers because of their size and impact on the domestic market,” the report said.

Separately, Schwab said large online platforms need to be more transparent about how to make money from online advertising. He said the business model was a “big black hole”, adding that transparency was key to boosting competition on the continent.

His report was not mandatory, but it was widely expected in Brussels, as it seemed to signal a heated debate over the digital market law over the months.

Last week: France, Germany: Netherlands called on the European Commission Adopt even tougher rules against Big Tech to prevent them from acquiring small companies to kill the competition.

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