Shawdesh Desk:

US President Joe Biden has signed an executive order aimed at cracking down on big tech firms and promoting competition.

The move points to Biden’s desire for tougher scrutiny of Big Tech, which the administration has accused of “undermining competition”.

“Capitalism without competition isn’t capitalism. It’s exploitation,” Biden said at Friday’s signing event, BBC reported.

The order includes 72 actions and recommendations involving ten agencies.

It suggests that problems have arisen because of large tech firms collecting too much personal information, buying up potential competitors and competing unfairly with small businesses.