It would be "a major mistake" to regulate Internet service providers more like public utilities to make sure they grant equal access to all content providers, Cisco CEO John Chambers told CNBC on Thursday.
The technology executive argued that an "open Internet," in which Internet users would not have to pay more for higher speeds of broadband, would have negative implications on innovation, jobs and the economy.
"I think it was a major mistake to revisit Title II. I've just come out of Europe last month. The European commissioners, country leads, [and] companies view the U.S. model as the one that is right and our broadband buildout over the last four to five years has been very good, probably one of the best in the world," he said on "Squawk on the Street." "To go back to a 1950s, voice mentality with Title II and net neutrality would be a tremendous mistake for our country."
Cisco, which makes network equipment, including for ISPs, would not be the only ones negatively impacted by a policy of "net neutrality," Chambers said. He argued it would hamper innovation and quality of service across the board.
"You won't be able to introduce the digitization of companies in business," he said. "This is a very bad decision, and I think the whole country has to rally behind. This will cost the country jobs and economic leadership. A major mistake to head this way."