In 2024, the European Union (EU) implemented its new digital regime – the Digital Markets Act (DMA) – and sold it to the world as a well-meaning attempt to promote competition online. In reality, it’s turning into a regulatory bludgeon aimed squarely at a handful of successful American technology companies. The DMA has not encouraged competition. Instead, it has become a weapon wielded by regulators in Brussels that they have used to disincentivize innovation and punish success.
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