Economics Government Internet Freedom

U.S. Tech Companies Absorb Significant Losses Due to Global NSA Spying Programs

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U.S. tech companies are taking a financial hit due to the NSA’s vast spying programs.

* The German government will drop a contract with Verizon over being outraged that the NSA was vacuuming up data about Europeans. It’s not just big corporations who are hurting, either. Smaller companies say they’re also losing business because of perceptions that they won’t protect privacy.

* Since Snowden revealed the NSA’s secrets, tech companies have pressured the administration to change course. Fallout from the NSA revelations has hit most acutely overseas, where people in countries like Brazil and Germany have been especially outraged.

* The NSA’s global spying programs, funded by tax dollars, have led to outrage from citizens and governments alike, and problems for U.S. companies. The NSA’s despicable actions could cause American Web companies to lose as much as 5 billion by 2016.

The tech industry hires arguably more new employees than any other industry. If the American government really wants to create jobs, are they simply ignoring how *inexcusably bad* global spying programs are for business?

[More.](http://thehill.com/policy/technology/210880-tech-takes-hit-from-nsa)

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“U.S. Tech Companies Absorb Significant Losses Due to Global NSA Spying Programs”