Big Tech to see government tailor about size of britches

[Bloomberg]( Follow Us This is Bloomberg Opinion Today, a 1996 Communications Decency Act of Bloomberg Opinion’s opinions. [Sign up here](. Today’s Agenda - Big Tech is starting to [get what it deserves](. - You will soon be [paying more for Netflix](. - Europe is [trying the Swedish approach]( to the pandemic. - Investors [aren't rewarding dividend payers](. Big Tech’s Comeuppance Begins We love-hate our Big Tech, don’t we, folks? On the one hand, it’s hard to imagine our lives or stock portfolios without the FAANGs (Facebook, Amazon, Apple, Netflix and Google). That these once-scrappy companies born in garages and dorm rooms now dominate the world is a testament to American ingenuity and whatnot. But also: They dominate the world. And not always in good ways. Facebook pumps poison into the body politic. Amazon lays waste to whole industries. Google surfaces photos of me with my mouth hanging open. Mistrust of Big Tech is one of the few things uniting left and right in this country. So expect little resistance, politically, to a new Justice Department lawsuit against Google, the first step in what could be a long-overdue comeuppance for these companies. Tae Kim says [the case is smart to aim right for Google’s most egregious practices]( in its core business of search. And those practices — including paying eye-watering sums to partners such as Apple to favor its products above others — look [eerily similar to those employed by Microsoft]( 22 years ago, writes Joe Nocera. The DOJ sued that company, too, and won. Microsoft fought back but only made life more difficult for itself before surrendering. It’s not too late for Google to learn from that example.  Less of a no-brainer, though no less popular, is the idea of killing Section 230 of the 1996 Communications Decency Act. This law, which all my fellow kids are talking about these days, protects social-media giants from liability for what’s on their platforms. President Donald Trump and his GOP supporters want to repeal it, to punish Facebook and Twitter for throttling content favorable to them. But in a roundup of opinions about this issue, Joe Nocera points out [killing Section 230 will only make these companies less likely]( to host controversial political fare, for fear of being sued. Cass Sunstein suggests the law should simply be tweaked. Tae Kim warns such tweaks aren’t so simple. But in whatever form it takes, change is coming.  Paid Post Nowadays, you just can't afford to risk privacy and security while working from home. Keep your meetings safe from "conference bombers" on Webex. From heads of state, to governments, to schools, to hospitals, Webex is the secure choice for video conferencing and collaboration. Visit [( to get it free. Cisco Webex Netflix and Gazillions One FAANG you don’t hear people complaining a lot about is Netflix, because FOR GOD’S SAKE THERE’S NOTHING ELSE TO DO. The company will probably have reported its latest quarterly earnings by the time you read this newsletter. Exact numbers aren’t important; it will have made gazillions from people trapped on their couches with no movies in theaters and nowhere else to go. In fact, as Tara Lachapelle notes, Netflix has probably been leaving money on the table by [charging much less for its service than it could have](:  That may be about to change. Unlike, say, Amazon, Netflix faces growing competitive challenges, with rivals such as Disney+ finally realizing they need a catalog that goes deeper than “[Mr. Boogedy](.” To maintain its edge in content, Netflix will need to spend more. Its subscription fees will have to rise to match. Further Pandemic-Entertainment Reading: [Going out to the movies is a special thing](, and we can’t let it die. — Stephen Carter Europe Channels Its Inner Sweden In the early days of the Covid-19 pandemic, Europe was home to some of the world’s harshest lockdown measures, particularly in Italy and Spain. It was also home to one of the loosest, in Sweden. With a second wave of cases rising, exhausted [Europeans are leaning more toward the Swedish approach]( to lockdowns this time, writes Ferdinando Giugliano. Of course, this tack didn’t work out so great for Sweden, which has lately started [leaning]( more toward more aggressive responses. The rest of Europe may eventually have to do the same thing. Further Pandemic Reading: The ages of victims [shouldn’t affect how seriously]( we take this disease. — Tyler Cowen Telltale Charts Companies have been [rewarded for cutting or not having dividends]( in this pandemic, writes Robert Burgess. Investors think there are better uses for cash these days. OPEC’s attempt to kill U.S. shale with cheap oil has [actually made it stronger]( and better able to withstand cheap oil, writes David Fickling. Further Reading Trump’s H-1B visa overhaul will make it [harder for small tech companies to hire](, hurting economic growth and American workers. — Bloomberg’s editorial board It’s not presumptuous of [Joe Biden to start planning his transition](. It’s an old tradition and just makes sense. — Jonathan Bernstein The Pennsylvania voting case is the latest sign John Roberts is trying to [protect the Supreme Court’s legitimacy](. — Noah Feldman Shutting down the U.S. Embassy in Baghdad [would just reward Iran]( and hurt our alliance with Iraq. — Hussein Ibish The pandemic is exposing how [women seldom actually “opt out” of the workforce](. They’re usually forced out by stingy companies, clueless husbands and bad public policy. — Sarah Green Carmichael ICYMI Stimulus talks continue to [not be quite dead yet](. Vladimir [Putin and Kim Jong Un watch]( the U.S. election anxiously. What [outdoor dining may look like]( in winter. Kickers Utah gubernatorial rivals record a [joint message calling for comity](. (h/t Tara Lachapelle) Scientists find a [2,000-year-old giant etching of a cat]( in the Nazca desert. (h/t Alistair Lowe) Scientists discover an [entirely new organ]( in the human head. Area man takes [eight years to digitize 45 video tapes](. Note: Please send cat etchings and complaints to Mark Gongloff at mgongloff1@bloomberg.net. [Sign up here]( and follow us on [Twitter]( and [Facebook](.  The U.S. presidential campaign has already been a roller-coaster ride for global investors, and it promises to get even more intense. Join us virtually on Oct. 21 at 1 p.m. Singapore time (GMT+8) to hear how Kathy Matsui, vice chair Goldman Sachs Japan, and Brian Barish, president and CIO of Cambiar Investors, are preparing their portfolios. [Register for free here]( to be part of the conversation or to access all content on-demand at your convenience. Before it’s here, it’s on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can’t find anywhere else. [Learn more](.  You received this message because you are subscribed to Bloomberg's Bloomberg Opinion Today newsletter. [Unsubscribe]( | [Bloomberg.com]( | [Contact Us]( Bloomberg L.P. 731 Lexington, New York, NY, 10022