We have to consider breaking up Big Tech companies. The silver bullet – smart regulatory regime – will take too long to be established in a coordinated manner worldwide.
Monopolisation is due to a variety of things. Certain tech giants have made the jump to light speed, and their businesses benefit from network effects.
Most of the products produced by yesterday’s economic giants eventually age or lose value over time, such as cars when they roll off the assembly line. On the other hand, whenever you use a search engine, you make the product younger or better for the next person who searches. Once such companies hit the critical mass, they detach from the pack. Big Tech’s growing profits are the firing power to put others out of business or acquire them, which has resulted in an aggregation of power.
