Often called the “four horsemen” of the tech industry, Apple, Facebook, Google and Amazon have a combined market valuation of well over $1.5 trillion.
They’re massive, and they’re everywhere.
From cars to wristwatches, their reach expands well beyond the typical confines of tech. This ubiquity is appreciated by many, but others think that these companies are stifling their would-be competitors. This isn’t just bad news for the tech industry’s minor players, it might also harm technological innovation.
A recent LA Times op-ed suggested that breaking up these “new Robber Barons” would foster competition and creative development.
According to the article, Apple, Facebook, Google, and Amazon benefit from large upfront costs, low marginal costs, and network effects -- all characteristics typically associated with monopolies.
Is Mark Zuckerberg the new John D. Rockefeller? Is Amazon the new US Steel? Should we break up these tech giants?
Guest:
Steven Strauss, a visiting professor at Princeton University’s Woodrow Wilson School of Public and International Affairs