Is Big Tech Too Big?
A couple of weeks ago Alphabet shares dropped 6%, Facebook tanked 7.5%, and Amazon shed 4.5% of its value. Why did this happen? An anti-trust probe was called into life regarding Alphabet’s Google Search business and investors fear a similar fate for its tech brethren, seemingly rightfully so: This news story unearths a public debate that has been discussed intensively since the 2016 US elections concerning Big Tech’s power and the need for anti-trust legislation. A debate, which appears to have the nearly unanimous agreement that these companies should be broken up. Logically, therefore, these firms should already be broken up, yet they are not. Why is this? Aside from the strawman “The government is corrupt/incompetent” reasoning, there actually exist multiple genuine arguments for keeping Big Tech intact, which we’ll be examining in the following.