In The Shadows ...

A Net Sum Gain?

June 15th, 2018 Day 2.

While we were sleeping... The repeal of Obama-era net neutrality protections officially took effect on Monday, nearly six months after the Republican-led Federal Communications Commission voted to roll back the rules. So, who cares? Most of us didn't notice and probably won't - for a while.

The What: The net neutrality rules were approved by the FCC in 2015 amid an outpouring of online support. The intention was to keep the internet open and fair. Under the rules, internet service providers were required to treat all online content the same. They couldn't deliberately speed up or slow down traffic from specific websites or apps, nor could they put their own content at an advantage over rivals.

To put it in easy to understand terms, the big providers could slow down access to WDC and allow sites to have faster access, thereby putting WDC at a disadvantage - or charge WDC more money to stay in the "fast lane."

The Impact: If there's one thing that everyone can agree on, it's that the internet is increasingly central to our lives. Internet providers could choose to prioritize their own content and services over those of rivals. Businesses like Netflix, with large audiences and bank accounts, will likely be able to adapt -- but smaller companies may struggle to strike deals with providers and pay up to have their content delivered faster. If WDC, for example, had to pay more, guess who'd ultimately end up paying? 🤑 Yeah, you guessed it.

This is just one of many "fuck the user" changes that the Trump administration has pushed. A few of the in-the-dark changes that will affect our pocketbooks include:

~ Canceled a rule mandating that financial advisers act in the best interests of their clients.
         At least Trump is now in compliance. 😂
~ Ended a rule that allowed consumers to file class-action suits against financial companies.
         Yeah, why would it make sense to allow consumers to bring class-action lawsuits against banks and credit card companies to resolve financial disputes? 🤔 Uhhh - Wells Fargo and Equifax headlines might give you a clue.
~ Ended a rule that barred employers from taking some or all of the tips given to service employees.
         Let's see - we don't pay minimum wage to servers and now employers can make sure they won't ever achieve that $7.25 holy grail.

It seems there's a pattern emerging and it's aimed at letting big businesses (a.k.a. Trump) decide what's best for themselves.

A parting thought: "While big business gain subsidies and political access, small businesses drown in red tape, and individuals now risk being classified as terrorists for complaining about it." ~ Zac Goldsmith