It also explains why EU is trying to handicap american companies. Good video though.
I won't say handicap as much as the EU seems like they are trying to ensure that their own tech companies are assured a seat at the table.
I am reminded of a saying. There is good in bad, there is bad in good. No doubt the EU has a number of good laws like GDPR that aim to better protect the privacy of its people, but at the same time, it feels to me like it would be impossible for anything within the EU to create a new social network while adhering to its requirements. They simply lack the resources to comply. Meanwhile, while these rules are onerous, later platforms such as Facebook and Instagram are still able to manage them and for these companies, it's simply an additional business cost that they can still afford to absorb because of their immense profitability.
Meanwhile, people like to slag on the US for being more lax with this sort of legislation, and that's precisely how companies like Facebook were able to grow, and grow to be as large as they are today. The next tech giant (if there is still room for more) will likely still come from the US, where the conditions are fertile for its inception.
On the other hand, the next Facebook or Tik Tok or Apple will never come out of the EU, which is also why the EU has no qualms about coming up with these rules that have minimal impact on their own companies. The rumoured ruling in favour of Spotify is, the way I see it, yet another way of EU favouring their own home-grown enterprises.
It's really just protectionism by another name. I am in no position to complain, since I have no skin in the game. Just be honest and upfront about it.