News Corp. CEO Robert Thomson said Wednesday that opportunities will be lost forever if the government does not take action now to curb so-called "self-priority" online. Said there is a possibility.
Two legislation currently under discussion in Congressprovides a sales platform that sells products and pushes their products to consumers while setting aside competitors. It targets the capabilities of the company. For example, Amazon can promote Amazon-branded T-shirts before its rivals when users search for T-shirts on the e-commerce giant's site.
In a conversation with WPP CEO Mark Read at WPP Beach, Thomson said the big risk is to set up an algorithm that e-commerce platforms "use [their]" without better monitoring. Is the possibility of circumventing existing antitrust laws. " Market power, meaningful, but unknowingly.
He added later. "Unless we solve these problems now, in five years, our ability to operate will be as real as ever, but virtually unprovable."
"I The reason I support this argument is that it brings more knowledge about how it works. They are not mysterious and lasting mechanisms, "he said. "They have parameters set by people."
He owns the Big Five book publisher HarperCollins One way News Corp. is vulnerable is Amazon's audiobooks. In addition to publishing, he said he also owns the audiobook e-commerce platform Audible.
"95% of US audiobooks are sold through Audible," he said. "The temptation to self-preference is enormous."
Thomson and Read said
19} We also discussed the outlook for Mark Zuckerberg'scomprehensive "Metaverse" project.
Thomson says that success is how much Facebook mogul wants to block it as an online territory of his company, and how willing to allow other companies to interact with it. Said it was hanging. "Will it be a march berth or a per berth," he jokingly said.
"The question is how to separate hype from reality," said the excitement about the project in the recent crypto market.
