"In the digital economy, we need to make sure that big data do not mean big brother."
This quote by Margrethe Vestager emphasizes the importance of maintaining privacy and avoiding surveillance in the digital economy, where companies often collect massive amounts of user data (big data). The concern is that this data could be misused to exert control or invasive influence over individuals (big brother), thus infringing upon their privacy rights. It calls for regulations and practices that ensure technology advances without compromising individual freedom and privacy.
"The era of letting a small number of very large companies dominate certain sectors is over."
This quote by Margrethe Vestager suggests that we are transitioning away from an era where only a few, extremely large corporations have significant control or dominance in specific industries or sectors. She implies that this concentration of power among a small number of companies is no longer acceptable or sustainable. The implication is that antitrust laws and regulations will be enforced to encourage competition and prevent monopolies from stifling innovation, economic growth, and consumer choice.
"Today's decisions are about tomorrow's markets."
This quote by Margrethe Vestager emphasizes that the choices we make today have a significant impact on the future market landscape. Decisions made now, whether in business or policy-making, lay the groundwork for the kind of competition, innovation, and opportunities that will be available tomorrow. It underscores the importance of making informed, strategic decisions, as they not only affect current conditions but also shape the direction and trajectory of future markets.
"We have to be careful not to mix up the economic power with political power."
This quote emphasizes the importance of separating economic might from political influence. It suggests that having significant resources or control in one area (economic power) should not automatically translate into dominance or decision-making authority in another area (political power). Maintaining a clear distinction between these two aspects is crucial for fairness, competition, and democratic principles in a society.
"If you don't understand technology, you don't understand the economy."
The quote by Margrethe Vestager suggests that in today's digital age, understanding technology is essential to comprehending economic trends and developments. As technology continues to shape and reshape industries, economies, and workforces, it is crucial for policymakers, regulators, and businesses to grasp the impact of technological advancements in order to make informed decisions that foster growth and competition. In essence, Vestager's quote underscores the interconnectedness between technology and the economy, emphasizing that neglecting one will result in an incomplete understanding of the other.
In Europe, we don't only take offence when one company is treating another company in a way that's illegal. We also look at if governments are joining up with companies that makes it more difficult for other companies. We also see that sometimes government actions can make it very difficult for businesses to compete on their merits.
- Margrethe Vestager
My parents didn't do office hours, and they did not do vacations, so if you had a problem, you could always come around. I watched them and thought, 'OK, this is what you are supposed to do.' I was very engaged in my local primary school and when I went to secondary school and to university. And one thing led to another, and here I am.
- Margrethe Vestager
I'm definitely a techno-optimist. I think we can do amazing things. But in my experience, if a thing has great potential, there is also a risk of great downsides, so to speak. Coming from a truly, really enthusiastic 'wow decade,' we are now moving into waters where we are somewhat more cautious.
- Margrethe Vestager
On Amazon, you find retailers that want Amazon to do part of their services. Those, you don't find to the same degree on Google Shopping. On Google Shopping, you find sort of the bigger brands, those who want to have the customer relationship themselves - the data, the payment details, the search patterns.
- Margrethe Vestager
Very often, I think about the people that I represent. I meet people who have thousands and thousands of employees and millions and millions of customers - and also make a lot of money. But I think about the millions of Europeans that I represent in order to try to balance that so we can meet on more equal terms.
- Margrethe Vestager
You need to have the advice from experienced people coming from different kinds of educational and backgrounds in general, and then you can make a decision. But you need people around you that you trust to give you advice, and you need to make sure that the facts of the case are presented.
- Margrethe Vestager
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