'They are basically utilities' — Greycroft's Alan Patricof on Big Tech regulation

"Everybody's got to face up to the fact they are basically utilities, which means something has to be done to make sure that a public utility doesn't take advantage of the public," Alan Patricof, co-founder and managing director of venture capital firm Greycroft, told CNBC's Andrew Ross Sorkin on Friday. He added that he anticipates there will eventually be some sort of regulation for the companies.
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Fri, Jul 31 20207:47 AM EDT