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New Study Shows A Substantial Majority Of Americans Believe Tech Companies Have Too Much Power

New Study Shows A Substantial Majority Of Americans Believe Tech Companies Have Too Much Power; Over Half Favor Government Intervention

By Grail Insights Newsroom | JULY 08, 2019

NEW YORKJuly 8, 2019 /PRNewswire/ -- Grail Insights conducted a recent survey of 1,069 US consumers. The topic: Are corporations and government doing enough to protect consumer data privacy? Despite the tremendous investment many tech companies have been making in public relations and safety-related feature development, a majority of the American public (56%) believes that large companies only address privacy and security concerns to protect their own financial interests, rather than to protect consumers.  

A substantial majority – 62% of Americans – feel that the government should protect them from tech companies who have acquired too much power. There isn't a significant partisan divide on the issue. People of both parties are ready for change. While 65% of Democrats agree, over 60% of Independents and more than half of Republicans also agree. In addition, more than half – 52% of Americans – agree that the government should break up big tech firms that have consolidated too much power, with slightly more Democrats and Independents favoring such a move versus Republicans.  

You may recall that just two weeks ago, during the Democratic debate, Senator Elizabeth Warren was asked about her plan to break up tech companies "like Facebook, Amazon, and Google." While this was a single-party debate, tech companies no doubt took notice. It's a strong indication that information security will be an election issue.  

Politics aside, research from Grail shows that information security is already a hot button issue. Find out more about how recent data breaches have a ripple effect on consumer trust. Does consumer concern over data security and potential regulatory action impact your business? Let Grail help you prepare for what could be an InfoSec reckoning.  

For more on the findings from this study, contact Brad Williamson at brad.williamson@grailinsights.com

Grail Insights is a strategic insights consultancy helping clients seize opportunities and respond decisively to market change by applying insights to any aspect of their business.