After the Pandemic, Will Big Tech Companies Be Unstoppable?

guest · May 3, 2020

After the Pandemic, Will Big Tech Companies Be Unstoppable?
The Immunity of the Tech Giants
May 1, 2020
https://www.nytimes.com/2020/05/01/opinion/tech-companies-coronavirus.html

If power tends to corrupt, and absolute power corrupts absolutely, how can we best describe the kind of power Big Tech will wield when the coronavirus crisis is over?

How about this: The tech giants could have all the power and absolutely none of the accountability — at least all the power that will truly matter.
This is the conclusion that many are coming to as the post-pandemic future begins to come into focus.

Wall Street sure is signaling that the power lies with tech companies, vaulting the stock of Amazon to close to $2,400 a share earlier this week, from $1,838 at the end of January.
And all the other Big Tech stocks, which were hit in the first weeks of the pandemic, also are on an upward march to the top of the market-cap heap.
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That is to say, we live in a country in which the very big tech firms will be the very big winners in the economy of the future, which still does not look like it will be so pretty for most people and many companies, too.

Now, as we turn to the healthy companies to help us revive the economy, it could be that the only ones with real immunity are the tech giants.
And this consolidation of power, combined with Big Tech’s control of data, automation, robotics, artificial intelligence, media, advertising, retail and even autonomous tech, is daunting.
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guest · Jul 24, 2021

How tech won the pandemic and now may never lose
July 24, 2021
https://www.deccanherald.com/business/how-tech-won-the-pandemic-and-now-may-never-lose-1012245.html

In April 2020, with 2,000 Americans dying every day of Covid-19, Jeff Bezos, Amazon’s chief executive and the world’s richest man, announced he was focusing on people rather than profits. Amazon would spend about $4 billion in the next few months “providing for customers and protecting employees,” he said, wiping out the profit the retailer would have made without the virus.

At the end of July 2020, Amazon announced quarterly results. Rather than earning zero, as Bezos had predicted, it notched an operating profit of $5.8 billion — a record for the company.
The months since have established new records. Amazon’s margins, which measure the profit on every dollar of sales, are the highest in the history of the company, which is based in Seattle.
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The combined stock market valuation of Apple, Alphabet, Nvidia, Tesla, Microsoft, Amazon and Facebook increased by about 70 per cent to more than $10 trillion. That is roughly the size of the entire U.S. stock market in 2002. Apple alone has enough cash in its coffers to give $600 to every person in the United States. And in the next week, the big tech companies are expected to report earnings that will eclipse all previous windfalls.

Tech is triumphant in a way that even its most evangelical leaders could not have predicted. No single industry has ever had such power over American life, dominating how we communicate, shop, learn about the world and seek distraction and joy.
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Brummelchen · Jul 25, 2021

Bezos got in bad light when he said his workers paid for his latest flight. ouch. and amazon delivery people here dont earn enough to get along. i dont have a problem when such "makers" want to make profit, the problem is that it is not paid back. where in germany the flood destroyed it a lot no amazon will be delivered for weeks, some of amazon workers lost their homes. in short: i miss the social balance of those people.

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After the Pandemic, Will Big Tech Companies Be Unstoppable?

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