New York Times

American tech titans flew high before the coronavirus pandemic, making billions of dollars a year. Now, the upheaval has lifted them to new heights, putting the industry in a position to dominate American business in a way unseen since the days of railroads. A rally in technology stocks elevated the S&P 500 stock index to a record high even as the pandemic crushes the broader economy.

Trump-administration moves herald a new, more invasive American philosophy of tech regulation, one that hews closer to China’s protectionist one, though without the aims of censoring content and controlling the populace. The shift could hurt American internet giants like Facebook and Google, which have greatly benefited from the borderless digital terroir outside China, as well as Chinese internet giants like Tencent and Alibaba, which have tried to expand into the West.