Tech CEO And Entrepreneur: Death Of Net Neutrality Could Stifle Startups

The Federal Communication Commission'srecent decision to reverse Obama-era net neutrality regulationshas left the tech industry on the defensive.

Wasabi Technologies CEO David Friend, who is also the mastermind behind Carbonite, one of the leading cloud backup services, warns that the regulatory rollback could hamper innovation in technology. He cited his former company, Carbonite, as an example.

[Related:Net Neutrality Was One Of The Biggest Telecom Stories Of 2017]

"When we entered the market in 2005 or 2006, we had as competitors companies like Comcast and Verizon, who were offering consumer backup products. If they had been able to slow down my product so people would buy theirs instead of mine, maybe that company would have failed," said Friend.

FCC Chairman Ajit Pai announced the rollback on December 14. The changes will give more power to broadband companies in an attempt to end heavy-handed government regulation. Many have criticized the decision in fear that service providers will block or slow down access to some websites. Some lawmakers, like Massachusetts Attorney General Maura Healey, have since announced plans to sue the FCC in an attempt to stop the changes.