Tech Firms Need More Regulation

In contrast to prior technological eras—marked by inventions such as the railroad, telephone, automobile, and television—the age of digital technology has progressed for several decades with remarkably little regulation, or even self‑regulation. This hands‑off attide needs to give way to a more activist approach. The greatest risk facing technology firms isn’t overregulation—it’s that government won’t do enough, swiftly enough, to address the technology issues affecting the world. In the democracies of the world, one of the most cherished values is that the public determines its course by electing the people who make the laws that govern everyone. Tech leaders may be chosen by boards of directors selected by shareholders, but they are not chosen by the public. Democratic countries should not cede the future to leaders the public did not elect.

Technology innovation is not going to slow down. The work to manage it needs to speed up.

[Brad Smith is the president of Microsoft. Carol Ann Browne is senior director of communications and external relations at Microsoft]