A California bill aimed at stopping trillion-dollar tech companies from favoring their own products has failed after an intense opposition campaign. Here are the details. BASED Act fails after intense lobbying campaign Last month, state Senator Scott Wiener proposed the BASED Act (Blocking Anticompetitive Self-preferencing by Entrenched Dominant platforms Act), or SB 1074, a California bill targeting how large digital platforms treat their own products and those of their competitors. In essence, the bill would bar companies with at least $1 trillion in market value from prioritizing their own products and services over competitors, while also limiting how they use third-party data and restricting interoperability and data portability.…