Like banks in the 2008 financial crisis, Facebook and other tech giants are “too big to fail”, according to research from Oxford University that calls for new regulations to protect users, and society, in the event of a possible collapse.
In their paper, published in the Internet Policy Review journal on Tuesday, Carl Öhmana and Nikita Aggarwal argue that the world’s biggest technology companies are unlikely to suddenly go out of business – but the world is unprepared for what would happen if they did.
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https://www.theguardian.com/technology/2020/aug/11/facebook-too-big-to-fail-says-oxford-university-research-paper