Big tech is conquering the world by establishing monopolies. Apple CEO Tim Cook said Wednesday that it is acquiring a new company every month.
The acquisition strategy is aimed at providing better services, but tech companies are killing competition one by one.
Many lawmakers have been calling for laws and regulations in recent years to curb dominant technology companies like Facebook Inc, Twitter Inc, Google by Alphabet Inc, Amazon.com Inc, and Apple Inc.
Turi inc. was once a promising artificial intelligence startup in Seattle. The company helped develop software that uses machine learning. The technology was so promising that Apple bought the company and paid a record $ 200 million for it.
While buying companies isn’t new to tech giants, the speed at which they are challenging competitors is alarming.
Apple CEO Tim Cook announced that they have acquired over 100 companies in nearly six years. This means buying a company every three to four weeks.
This includes the acquisition of headphone maker Beats and the $ 3 billion music recognition app Shazam.
Apple isn’t the only company doing hostile takeovers. Facebook bought Instagram and WhatsApp when it threatened its popularity within two years.
Big technology giants are on an acquisition spree. Many acquisitions don’t even make the headlines …
The idea is simple: eliminate potential competitors, kill innovations, and pick up talent from smaller companies.
The focus is on a large tech monopoly. Five major global technology giants have risen in the past two decades. These include Alphabet, Amazon, Apple, Facebook, and Microsoft.
Today these tech giants have too much power. Each of them is monopolistic in its own domain. They wield tremendous power over our digital lives and control the way we navigate the web.
Some even try to manipulate the way democracies work, while others have taken users’ privacy for granted. The way to restore the balance of power is to break up great technology.
Current U.S. antitrust laws allow federal regulators to break mergers, which could encourage healthy competition in the marketplace.
For global regulators, the dissolution of monopolies requires a new legal toolbox. In any case, it is about creating a level playing field and protecting the future of the Internet.
