"It's competition that creates innovation"

Margrethe Vestager, Commissioner for Competition, stresses the importance of the free market for the development of business and society.
By Elisa Campos 10/11/2017

    She is one of the most powerful women in the world. And take your mission very seriously. Like it or not the technology giants. Margrethe Vestager is the Commissioner of the European Union for Competition, responsible for ensuring that anti-competition actions do not take root in European territory. It was, for example, that she was leading the proceedings that resulted in the fine of 2.4 billion euros received by Google for anti-competitive practices. On Tuesday (7), at the Web Summit in Lisbon, she reaffirmed her commitment to ensuring the free market for an audience of executives and entrepreneurs of technology. What's more, to justify his firm grip, he appealed to a word venerated by the industry. "It's the competition that makes innovation happen. It's what makes us capable of doing what we never imagined possible before, "says Margrethe.


     Those who have already arrived do not have the right to use their influence to close the doors to others, he argues. "It's a problem when companies that dominate the market decide to use their power to stop competition and prevent innovation," he says. Margrethe goes further. In his view, successful companies have an even more relevant role in maintaining free market rules. "Companies like Google have a special responsibility. And we had to give Google a fine, because he did not respond to that responsibility. It is not acceptable for him to use the power of a search engine to deny others the chance to compete. "
    The executive made a point of emphasizing in her speech that success is by no means a problem but rather a motivator. "He inspires others. Obviously, we have no objection to Google dominating the search market. We just do not want it to use this dominance to squeeze the competition because we believe it should not be the size of the company that decides if it is successful. That should not be the connections with governments that decide if it is a success. It should be your ability to innovate, your products and services. "
    Despite weighing heavily on the private sector, Margrethe also pointed out that government actions, such as subsidies or tax cuts for certain industries and companies, also charge their price, reducing market efficiency. "It makes competition more difficult on an equal footing."
    Despite the acid criticism, the executive kept an optimistic tone in her presentation, greeting the innovation several times. "When they ask you why you, why now, why change, answer: why not? This is the spirit that opens new horizons. " The provocation remains. Her and ours.