Former Google Chief Executive Officer, Eric Schmidt has said that the excesses of social media are likely to result in greater regulation of internet platforms in the coming years.
He said this while reacting to the antitrust lawsuit filed against Google on Tuesday by the US government, at a virtual conference on Wednesday. Schmidt, who left the board of Google’s parent Alphabet Inc. in 2019, but is still one of its largest shareholders, said the lawsuit was misplaced, but that more regulation may be in order for social networks in general.
“The context of social networks serving as amplifiers for idiots and crazy people is not what we intended.Unless the industry gets its act together in a really clever way, there will be regulation,” he said.
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