Big Tech benefits research and development
The industry now depends on Big Tech research and development investments to propel it forward.
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The size and stability of the Big Tech companies enable them to pursue longer-term goals than would be feasible for smaller companies, which includes making massive investments into research and development (R&D). Amazon, Apple, Facebook, and Google's parent company Alphabet are all among the top 15 companies in the world in terms of R&D spending, with Alphabet and Amazon being the first- and second-biggest spenders on R&D respectively. Rather than stifling innovation, the research conducted and funded by the Big Tech companies represents a vast support network for forward-looking innovators and inventors. If Big Tech is broken up, private sector R&D will be diminished significantly.
These R&D investments in private terms are large, but most real breakthough innovation happens through public funding and university models. Value created through private R&D innovation in not generally shared with the public, but is sold back to them.
[P1] The size and wealth of Big Tech companies makes them able to make huge R&D investments, encouraging innovation.