Google Kept “Honest” By Competition Says ANZ MD
Google’s local head said the company is taking the Australian Consumer and Competition Commission’s Digital Platforms Inquiry “very seriously” but doubted whether breaking up tech giants would have any benefit.
Speaking at the Australian Financial Review’s Innovation Summit in Sydney today, Google Australia & New Zealand managing director Melanie Silva said there was enough competition to “keep the business honest”.
Ms Silva also raised concerns recommended changes to limit the ability of tech giants to acquire startups would lead to a brain drain locally.
She warned many startups have the goal of being acquired by a company like Facebook or Google, and “anything that stifles that is going to be problematic”, potentially causing local startups to move overseas.
The government will hold a 12 week public consultation process before acting on any of the ACCC’s 23 recommendations.