Home / Business / Apple’s Tim Cook says tech law ‘inevitable’ since giveaway marketplace isn’t working

Apple’s Tim Cook says tech law ‘inevitable’ since giveaway marketplace isn’t working

Regulation of tech companies is coming, Apple Inc. Chief Executive Tim Cook says, since a giveaway marketplace “is not working.”

“I’m a large follower in a giveaway market. But we have to acknowledge when a giveaway marketplace is not working. And it hasn’t worked here. we consider it’s unavoidable that there will be some turn of regulation.”

Tim Cook, Apple CEO

“I consider a Congress and a administration during some indicate will pass something,” Cook told Axios in an talk for “Axios on HBO,” airing Sunday night. And Cook pronounced tech companies should not be fearful of regulations.

“This is not a matter of remoteness contra profits, or remoteness contra technical innovation. That’s a fake choice,” he said.

Cook told Axios that while he believes record is not inherently good or bad, companies contingency be wakeful that their products can be misused.

He also pronounced that while Silicon Valley has embraced farrago in general, it “has missed it” when it comes to shutting a gender gap.

Apple shares

AAPL, +1.11%

  are adult 14% year to date, compared to a scarcely 3% benefit for a Dow Jones Industrial Average

DJIA, +0.49%

 , of that it is a component.

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Article source: https://www.marketwatch.com/story/apples-tim-cook-says-tech-regulation-inevitable-because-free-market-isnt-working-2018-11-18