Margrethe Vestager, executive vice president of the European Commission for A Europe Fit for the Digital Age, is calling for greater global alignment on tech regulation, noting “we do not have a global competition enforcer, but we have global companies.” Vestager added she was “really encouraged” by the Biden administration’s efforts to take similar actions in the U.S. with the 72 actions listed in his recent executive order that focused on Big Tech’s collection of data, surveillance practices and acquisitions of startups. Read more

In an in-depth interview with the BBC, Alphabet and Google chief executive Sundar Pichai suggested that an open Internet is under attack in different parts of the world where the free flow of information is often restricted and the Internet model is generally taken for granted. He also expressed concern about key areas that have become increasingly controversial, such as privacy, data and taxes — and defends his company’s record on these fronts. Meanwhile, he also believes that the development of artificial intelligence will change the world and may prove “more profound” than the creation of fire, electricity or even the Internet. Read more

Amazon rival Shopify, which hosts online stores, announced it would no longer take a cut of the first $1 million that a developer makes on its app store. This follows similar moves by Amazon, Apple, Google and Microsoft that reduce app store fees for some developers, as the Big Tech companies are scrutinized by regulators and lawmakers over potential anticompetitive behavior. From August 1, developers on Shopify will keep 100 percent of their revenue from their first $1 million; the company said the benchmark will “reset” each year. Read more

The Cyberspace Administration of China, an agency set up by President Xi Jinping that reports to a leadership group he chairs, increased interagency oversight of companies traded in the United States and elsewhere overseas. The agency also will harden rules related to domestic companies listed on foreign stock exchanges and better coordinate various regulators. That lack of coordination was apparent in DiDi Global’s IPO last month, which was supported by financial regulators but tagged by the country’s cybersecurity regulator. Read more

Beijing-based ByteDance, parent company of social video app TikTok, which was valued at $180 billion in December, indefinitely put plans on hold for a public offering. The company had been considering an IPO in the United States or Hong Kong but its founder and CEO Zhang Yiming changed his mind after meeting with China’s cyberspace and security regulators who reportedly told him to focus on data-security risks and other issues. Another reason for holding off is that the company did not have a chief financial officer at the time. Read more