Apple CEO Tim Cook argued this week that the big tech Masters of the Universe need to be regulated by the government to protect user privacy.

In an interview this week at the TIME 100 Summit in New York, Apple CEO Tim Cook called for more regulation on the technology industry.

“We all have to be intellectually honest, and we have to admit that what we’re doing isn’t working,” Cook said during the event. “Technology needs to be regulated. There are now too many examples where the no rails have resulted in a great damage to society.”

Cook spoke in depth about some of the negative impacts of technology on society. He claimed that is not Apple’s goal is to ensure that their users are using their Apple devices as much as possible.