In 2018, Facebook, Amazon, Apple, Microsoft, and Google became known as FAAMG: 5 tech companies whose earned revenues equate to 68% of US GDP growth. As FAAMG grows, concerns of privacy and Antitrust regulations have risen. In fact, 2 in 3 Americans - regardless of political party - support the “Big Tech Breakup,” but far more than half of Americans use FAAMG services. 7 in 10 have a Facebook account, 9 in 10 use Google Search, 2 in 3 purchase from Amazon.
Moreover, there have been concerns of Big Tech violating free speech. In March 2019, Elizabeth Warren released a campaign ad supporting the break up of Big Tech. Facebook removed her ad, sparking bipartisan backlash. Elizabeth Warren on the matter: “Curious why I think FB has too much power? Let’s start with their ability to shut down a debate over whether FB has too much power.”
While there is plenty to dissect, Big Tech is as much of the problem as it is the solution. Read more below.
infographic by: greatbusinessschools.org