Giving Compass' Take:

• Becky Chao explains how the Federal Trade Commission's attempts to transparently investigate and regulate the tech industry have failed to inspire public confidence. 

• How can funders work to protect the American public from the tech industry? 

• Learn more about data-mining and privacy concerns. 

Beginning last fall and continuing into the new year, the Federal Trade Commission has embarked on a series of Hearings on Competition and Consumer Protection in the 21st Century. To date, there've been nine hearings, each spanning two or three days. The harms technology presents to consumers have taken center stage during the hearings, with much debate centering on issues like consumer privacy, data security, and the risks platforms pose to competition. Indeed, the hearings stem from a problem that's been brewing for years: Companies have repeatedly shown that they're not up to the task of self-regulation.

And yet, while it's certainly good that the FTC wants to be more accountable and transparent, convening a series of public hearings won't be enough—at least, not if they don't get at the deeper question of whether, and how, to regulate today's towering tech companies.

Understanding the scope and stakes of the hearings requires taking a zoomed-out look at the current tech-company landscape. Importantly, the hearings take place against a context of growing public outcry directed both at tech giants for violating consumer trust and at government agencies for a perceived lack of enforcement. A recent survey, for instance, shows that 80 percent of consumers agree that government regulation of new technologies is crucial for consumer protection—but 70 percent believe that the government is ineffective at ensuring fair use of their data.

As the primary government agency charged with enforcing privacy regulations, the FTC is not exempt from these accusations.

In this light, it's clear that the public has lost trust in the FTC's ability to promote competition and protect consumers. A major question for the hearings, then, isn't just how to restore trust in big tech, but also how to restore trust in the FTC's broader ability to fulfill its mission.

Read the full article about regulating the tech industry by Becky Chao at Pacific Standard.