When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Sunday, June 9, 2013

US surveillance revelations are kiss of death for US tech firms

"The U.S. government must provide clarity regarding these monstrous allegations of total monitoring of various telecommunications and Internet services," said Peter Schaar, German data protection and freedom of information commissioner. "Statements from the U.S. government that the monitoring was not aimed at U.S. citizens but only against persons outside the United States do not reassure me at all," he said. . . ." (source: Reuters infra)
We've only seen the beginning of this--my guess is that more than one Silicon Valley giant will now consider moving its corporate headquarters outside of the US like Aon did--

UPDATE 1-U.S. surveillance revelations deepen European fears of Web giants | Reuters: "Europeans reacted angrily on Friday to revelations that U.S. authorities had tapped the servers of Internet companies for personal data, saying such activity confirmed their worst fears about American Web giants' reach and showed tighter regulations were needed. The Washington Post and the Guardian newspapers aroused broad outrage with reports that the National Security Agency (NSA) and the FBI had accessed central servers of Google , Facebook and other big Internet companies and gathered millions of phone users' data. Europe has long yearned to contain the power of the U.S. titans that dominate the Internet, and privacy-focused Germany was quick to condemn the companies' co-operation with the U.S. security services. . . ." (read more at Reuters link above)


The Big Picture

Financial Crisis - The Telegraph

JohnTheCrowd.com | The Sailing Website

Craig Newmark - craigconnects