Jan 9, 2018

First look: "Techlash" warning

Mike Allen

Donohue speaks in 2015. Photo: Chip Somodevilla/Getty Images

Tom Donohue, president and CEO of the U.S. Chamber of Commerce, will warn tomorrow of the consequences of the strengthening "techlash" — the "backlash against major tech companies [that] is gaining strength ... both at home and abroad, and among consumers and governments alike."

Donohue, in his annual “State of American Business” address, will caution against "broad regulatory overreach that stifles innovation and stops positive advancements in their tracks."
Donohue: "Technology is not a single, all-powerful industry. It is now a part of every industry. ... Technology will continue to be a major driver of stronger, sustained growth — and if we leverage it smartly and carefully, we will all benefit."
Why it matters: Donohue's comments are one of the first public acknowledgments from a business leader of the gathering headwinds against Big Tech, and a preemptive effort to stave off regulation by pointing to the benefits of tech, particularly the economic growth spurred by the industry.
Speech details here.

P.S. "Apple Inc. investors are shrugging off concerns raised by two shareholders about kids getting hooked on iPhones, saying that for now a little addiction might not be a bad thing for profits." (Reuters)

Go deeper: "The growing war on tech addiction," by Axios' David McCabe.

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First look: "Techlash" warning

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