Washington (November 19, 2018): Apple CEO Tim Cook predicts that new regulations of tech companies and social networks to protect personal data are inevitable.
In an interview Axios being broadcast broadcast Sunday on HBO television, Cook said he expected the US Congress would take up the matter.
Generally speaking, I am not a big fan of regulation,” Cook said in an excerpt released by Axios. “I’m a big believer in the free market. But we have to admit when the free market is not working. And it hasn’t worked here. I think it’s inevitable that there will be some level of regulation.I think the Congress and the administration at some point will pass something.
Cook has previously been a proponent of self-regulation, especially as concerns user data protection.
But following the scandal that saw data consultancy Cambridge Analytica obtain data from millions of Facebook users, Cook said the industry was now beyond the scope of self-regulation.