First look: "Techlash" warning
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.