Jun 19, 2020

Have we become too reliant on Big Tech firms?

Big Tech firms have been getting even bigger during the pandemic and their success means they have plenty of funds to snap up other businesses. "It's too soon to say whether these are serious inquiries or whether they're merely a window dressing responding to the public and political concerns about the power of the big five tech companies." To help protect their interests, the Big Tech firms have hundreds of lobbyists working in Washington. Mr Galloway believes that Europe is more likely to take the lead on tougher sanctions against Big Tech than the US. "Europe gets all of the downside of big tech... but they get very little of the upside. In the US, these are tremendous economic engines, providing a lot of jobs and a source of pride - they create that ecosystem of other successful companies around them," he says. Big tech may be getting stronger during the pandemic, but it may actually make things harder for them in the long term.

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