Instead of bazooka-level fines on global turnover, this €700m was no more than a slap on the wrist. It’s a missed opportunityThe European Commission president, Ursula von der Leyen, had some tough words for big tech this week, but it seems that at the last minute, the EU lost its nerve. Under the Digital Markets Act, companies that the EU has designated as “gatekeepers” – that is, digital platforms that provide core services such as search engines, app stores and messenger services – have special obligations and constraints that are meant to ensure a fair playing field for other companies.Apple, which takes a significant cut of purchases (including subscriptions) made through its App Store, violated the act by preventing developers from directing customers to their own websites to get around the “Apple tax”. In Meta’s case, the company was fined for forcing Facebook and Instagram users to either consent to letting Meta use their personal data, or pay a monthly fee to remove ads.Alex...