“There’s an old joke which says never to get into a fight with anyone who buys ink by the barrel. Fighting with regulators is pretty similar because, like it or not, they have immense power,” corporate governance expert Charles Elson said.
May 04, 2023 at 10:57 AM
4 minute read
What You Need to Know
- Meta this week blasted the FTC, saying it had reached a new low.
- Crypto company legal chiefs Paul Grewal and Stu Alderoty also have sharply criticized regulators.
- A former FTC chair says companies need to consider that regulatory agencies are run by human beings with memories.
Big tech companies are suddenly “poking the bear”—publicly challenging regulators instead of striking a deferential tone.
Meta on Wednesday was the latest company to turn combative, lambasting the Federal Trade Commission after it proposed punishing the company for privacy violations by banning it from monetizing data it collects on children and teens.
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