regulators has- changed enormously. and i think on your show early this year you had someone . from the competitionl and markets authority who was making this point, that i think there is a presumption . of an action, the market should be allowed to run its course - and monopolies would be self correcting. - but i think that mood has- changed, and there is now a far more interventionist mood. and we ve actuallyjust seen that, have we not, this week with the competition and markets authority have done with meta, facebook s parent company, you know, telling them they ve got to sell giphy. but can you unpack that for us? how does a british competition and markets authority tell an american company what to sell? yeah, indeed, it s quite - an extraordinary story in a way because giphy is a new- york based lossmaking platform that provides gifs. it was bought by meta in may last year. - giphy doesn t really have any activities or employees - in the uk, but the competition and market authorit
growing pressure to reign- in the tech companies. i was at a future techl forum event this week that the british government held and i think the mood among - regulators has changed enormously. and i think on your show early this year you had someone from the competitionl and markets authority who was making this point, that - i think there has been a presumption of an action, the market| should be allowed to run its course and monopolies would be self correcting. i but i think that mood has changed, and there is now a far more - interventionist mood. and we ve actuallyjust seen that, have we not, this week with the competition and markets authority have done with meta, facebook s parent company, you know, telling them they ve got to sell giphy. but can you unpack that for us? how does a british competition and markets authority tell an american company its got to sell? yeah, indeed, it s quite - an extraordinary story in a way because giphy is a new york based lossmaking platform t
but can you unpack that for us? how does a british competition and markets authority tell an american company what to sell? yeah, indeed, it s quite an extraordinary story i in a way because giphy- is a new york based lossmaking platform that provides gifs. it was bought by meta in may last year. - giphy doesn t really have any activities or employees - in the uk, but the competition and market authority - investigated it, and thought- that there was a case to answer in terms of suppressing competition. it thought that it - could limit other people using gifs, it could extract. data if other people did use those gifs and it was also depriving the market - of a potential competitor to facebook. and so the competition authority has told - meta to dispose of it. and a lot of competition lawyers are fairly astounded
the head the competition and markets authority. a presumption of an action, the market should be - allowed to run its course and monopolies would . be self correcting. but i think that mood has- changed, and there is now a far more interventionist mood. and we ve actuallyjust seen that, have we not, this week with the competition and markets authority have done with meta, facebook s parent company, you know, telling them they ve got to sell giphy because they make it, they may guess, but can you unpack that for us? how does a british competition and markets authority tell an american company what to sell? yeah, indeed it s quite an extraordinary story| in a way because giphy- is a new york based lossmaking platform that provides gifs. it was bought by meta in may last year. -