Amazon, Google, Facebook, Apple, Microsoft and others are now some of the largest and most powerful corporations in world history. Their reach is global, their resources and power eclipsing all but the largest nations. With their monopolies on entire market sectors and their political impact, has Big Tech become detrimental to the public good?
The Big Tech companies should not be broken upShow moreShow less
The rise of Big Tech is a free market success story, and the services they provide are indispensable to consumers.
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.
Rejecting the premises
This page was last edited on Friday, 24 Jul 2020 at 21:17 UTC