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Comment by lowdose | Hacker News Reader

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Last year FAANG created 98% of the S&P500 return. This means that the other 495 incumbents made a lost and are being disrupted.

Facebook > Users > Content > Advertisers

Apple > Developers > Apps > iPhones

Amazon > Sellers > Products > Buyers

Netflix > Creators > Video Content > Customers

Google > Websites > Webpages > Advertisers

Do you have a citation for that? That doesn't seem like a good thing long term that 98% of gains are in one "industry"

this is not really one "industry", tech is just an enabler here. The only difference is what was once physical is now digital.

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