Apple's Tim Cook says technical regulation is "inevitable" because free market does not work

The regulation of technology companies is approaching, said Apple Inc. CEO Tim Cook, because the free market "does not work".

"I am a strong supporter of the free market. But we must admit that the free market does not work. And it did not work here. I think it's inevitable that there will be some level of regulation. "

"I think Congress and the administration will someday pass something," Cook told Axios in an interview with "Axios on HBO," aired Sunday night. And Cook said technology companies should not be afraid of regulation.

"It's not a question of protecting privacy versus profit, or protecting privacy versus technical innovation. It's a false choice, "he said.

Mr. Cook told Axios that, even though he felt the technology was neither good nor bad in itself, companies needed to know that their products could be misused.

He also said that while Silicon Valley has embraced diversity in general, it has "failed" when it comes to narrowing the gender gap.

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, of which he is a component.

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