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Breaking Up Amazon, Google, Apple, and Facebook Could Save Capitalism, NYU Professor Says (venturebeat.com)
An anonymous reader shares a VentureBeat report: If you want to get an idea of how quickly sentiment has shifted against U.S. tech giants, just listen to NYU professor Scott Galloway. [...] "After spending the majority of the last two years of my life really trying to understand them and the relationship of the ecosystem, I've become 100 percent convinced that it's time to break these companies up." It's an audacious claim from anyone, even more startling coming from someone who has been such a close and bullish observer of these tech giants. Yet for Galloway, it is clear that the four companies have simply become too big, and too powerful. "The premise of my book is that Amazon, Apple, Facebook, and Google are our new gods, our new source of love, our consumptive gods," he said. "And as a result of their ability to tap into these very basic instincts, they've aggregated more market cap than the majority of nation's GDP ... I think these entities are more powerful than any entity, with maybe the exception of China and the U.S."
[...] Galloway said he wasn't making his argument based on many of the current emotional outcries against the companies, though these are important to note. And he proceeded to list what he considers to be these giants' numerous sins. "There are reasons to be angry at them," he said. "They basically power fake news ... So the notion that our platforms have been weaponized by the intelligence unit of a foreign adversary was initially responded to by Facebook as crazy, that we were crazy for thinking that. Then we found out it was millions of people, and now we're finding out it was hundreds of millions of people who were exposed."
[...] Galloway said he wasn't making his argument based on many of the current emotional outcries against the companies, though these are important to note. And he proceeded to list what he considers to be these giants' numerous sins. "There are reasons to be angry at them," he said. "They basically power fake news ... So the notion that our platforms have been weaponized by the intelligence unit of a foreign adversary was initially responded to by Facebook as crazy, that we were crazy for thinking that. Then we found out it was millions of people, and now we're finding out it was hundreds of millions of people who were exposed."
This is another in a long line of idiotic articles. If we limit ourselves to technology companies, there remains only one company that really needs to be broken up: Microsoft.
None of the companies listed impose any barriers to entry that are under their direct control, and eliminating stupid patents would also eliminate all of those barriers (money is not a significant barrier) in the fields dominated by the companies listed in the article. Every single one of those companies has viable alternatives to everything they produce.
Microsoft is the only technology company in existence that has barriers to entry under its direct, monopolistic control; and is therefore the only technology company that needs to be broken up. This is as true now as it was back in 1999.