“Silicon Valley’s innovation ecosystem is the engine fueling California’s dynamic economy. At a transformational moment for our state, we should be doubling down on policies that strengthen our innovation leadership to benefit all Californians, rather than advancing policies that risk undermining it.
Yet legislation introduced earlier today, SB 1074, would impose sweeping restrictions on the largest technology companies, with impacts that could reverberate across the broader innovation ecosystem – ultimately harming California consumers and the small business owners it seeks to help.
As drafted, the legislation would significantly constrain how some of Silicon Valley’s most iconic companies deliver integrated consumer tools, limit certain startup acquisition pathways, and impose new restrictions on how platforms operate and compete. Many entrepreneurs and small businesses rely on the free and integrated tools offered by the leading online platforms to build products and reach customers.
Innovation is not a zero sum game. And, California’s economy delivers for all when small businesses and leading innovators can compete, collaborate, and scale.
Policies that disrupt that balance risk slowing investment, undermining our competitive edge and driving innovation elsewhere.
California cannot afford to rush a policy as consequential as SB 1074.
I urge the Legislature to halt this proposal and refocus on advancing solutions that grow California’s innovation economy and make our state more affordable for all Californians.”
