Americans' confidence in technology firms has dropped
brookings.edu
brookings.edu
They are stagnant because they outsource almost all real R&D to startups they can buy only after they've done the hard work of proving success
I know it's not a monopoly per se, but it's anti-competitive and there's too many walled gardens
Companies already do that with dividend payouts or share buyouts. Also, the shareholders control these companies. If they wanted the profits returned to then, they would vote for it.
> Maybe something along the lines of "any company whose average market cap over the course of a fiscal year exceeds 1% of GDP is automatically broken up".
I prefer over 33% market share. I think every market/industry should have at least 3 players. Any company that goes over 33% market share for X period of time gets broken apart.
> Companies that don't want to be split into pieces would need to find ways to reduce their market cap, one of the quickest being sending dividends to shareholders
Not necessarily. There are companies that don't have a profit or cash on hand with huge market caps. Amazon notoriously made no profit for decades. I think enterprise value is what you are looking for.
Edit: just a passing thought, I don't advocate for any of these ideas. Just complaining, I have no answers
I'm not even anti-corporation, but to pretend everything is fine seems silly
If you don't like Amazon having your data, or whatever your issue is, don't use Amazon.
I know things are more complicated
You, however, need a mirror. Everything you just said is a wonderful display of willful ignorance. Your head in the sand does not protect you from the world
Big Tech, in 2023, is effectively a governmental body. I mean all 7 (or whatever) of the largest companies. They operate in a wildly anti-competitive and anti-free-market way, rivaling even the Railroad tycoons of a bygone era.
I'm not anti-corporation, but there needs to be some effort put into correcting this. It's not going to fix itself.
Our country would be a lot better off with a lot of small businesses rather than a few gigantic businesses.
Is that true? Plenty (in fact, arguably most) countries have a much smaller ratio of "big" to "small" companies and many of those are not "a lot better off" than our country and quite to the contrary. So I don't buy this assumption.
The fact that a startup without a viable business model can still have a $1b+ exit simply for having good tech is part of the reason why startups attract so much capital and can afford to be innovative.
I guess just be careful what you wish for. It can be anti-competitive, but it's also in part what's driven a lot of recent innovation.
They just want the fun of experimentation and a payday
And like that's fine whatever, live your life, but it's creating a really crappy feedback loop of monopolization and buy outs
I prefer to work for startups whether they yield a "payday" or not - they usually don't - because huge organizations and complex bureaucracies leave me feeling miserable and demotivated.
I'm arguing it's destructive long-term by creating a Goliath no one can compete with
Or several Goliaths in this case
Consolidation leads to stagnation
Unless prevented by governmental regulation or similar (like patents) startups move faster and are more innovative and creative. They are not the cheapest but competing on price is not a good idea for a startup anyway, and the monopoly cannot be the cheapest possible since that would diminish profits - then what would be the advantage to be a monopoly?
A monopolised market is ripe for disruption and VC are dying to fund startups who can claim a chunk of that market. Any startup bought out by a Goliath will fund another 10 in its stead.
I know zero cases of unbeatable monopolies in a free market. All monopolies had government support. Do you have any examples?
The established monopoly company will, either by strong-arming suppliers, service providers, and marketplaces into not doing business with the startup, or by just buying them.
At least, that's how it's traditionally been done.
Isn't that illegal already?! I don't see how extra regulation can change anything. Any company is liable to try anti-competitive behavior and that is why it's illegal, monopoly or not.
And even if the government fails to stop Goliath from doing illegal stuff, a free market will route around it. See how Microsoft/Intel - monopolies in the 90s got out-innovated and made irrelevant by pure market forces while the anti-trust government action merely delivered a slap on the wrist.
Free markets work. Unless we regulate them to discourage startups.
Example of highly regulated markets: health care, energy, transport, education, telecoms. The result? It's almost impossible to compete, prices are high and products crappy.
> or by just buying them
Thus funding 10 new startups in the field since it's now known that the Goliath is exiting newcomers. Gold rush for any VC!
I'm not sure what you mean by "extra regulation" here. Yes, it is illegal, and that's an example of appropriate regulation. I had the impression you were arguing against regulation, though. I think I don't understand your stance here, so my responses may be off the mark.
> Free markets work.
They do, although they aren't a magic panacea. And a free market cannot exist in the absence of appropriate regulation.
> Unless we regulate them to discourage startups.
I agree. Appropriate regulation is not intended to discourage startups.
What I am against is crap like “don’t bundle a browser in your OS”, “you must have an USB-C port”, net neutrality, “censor your users”, “your cars must have backup cameras” and even “you’re too big so we’ll call you a monopoly and split you up” or “you’re a billionaire we should tax your wealth. These regulations (even if well intended) will always have unintended second order effects and a significant chilling effect on startups. Compliance costs add up and are much easier supported by incumbents. Startups are fragile and founders easily discouraged.
I want competition and startups and looking around us and at history it is clear to me that the less regulated (freer) a market is, the healthier it is. Just look at computing and the Cambrian explosion of hardware and software we enjoyed during the years governments were too surprised to wreck it.
Reversely, I look at heavily regulated markets (against, with good intentions, I am sure) and I see huge market failures. Take housing for example: countless rules, zonings and regulations - it takes years before you can even start building. The result? People are paying through the nose to live in places that are illegal to build today.
The free market mechanisms work and they are incredibly powerful. We should be extremely reluctant to mess with them every time we feel something is not quite right in the world and just a little regulation would fix it - the odds are we’ll do more bad than good. Free markets are after all the best wealth creation engine we know and we owe it the incredible abundance we are living in right now.
That's far from the only solid fact you need to know, though. You need to know the conditions and circumstances around it all.
You need to look no further back than the robber barons to see "tech" (yes they were tech, not in the modern sense but industrial) and how it required massive political mobilization to get rid off. It wasn't "free market" that did it, in matter of fact it perpetuated the monopolistic behavior.
We can cherry pick history all day. The point is that "only required argument is historic" is stupidity, and often requires assumptions, cherry picking and nitpicking
The fact that you have to dig back to the 19th century speaks volumes.
And if you knew your history, you'd know that, for example in the case of Standard Oil competition and free market already broke their monopoly before any government intervention.
And there are many other closer examples where free markets brought wealth and prosperity together with competition and innovation while turning away from them only brought poverty and authocracy.
My favorite example I actually lived through was the incredible success story of Eastern Europe after getting rid of communism. From cold and hunger to high-rises, iPhones, luxury cars and city breaks. All thanks to a minimally regulated free market.
Or by governments.
I’m not saying it’s a good system necessarily, but it’s a big factor worth acknowledging and different from a tech start up.
Serious question.
I would like to see the government break up a lot of these mega corporations, but it's not a great solution
Our global economy just means overseas companies will buy them, or they will move offshore and compete where we can enforce anything
I don't have any answers, but I think we can all recognize something's not working here
My point was the people who supported the policies that got us into this mess need to recognize that the solutions they want don't exist with what they supported in the past. So sacrifices need to be made.
It depends on the regulation.
Not every rule need apply to every business.
“Here's to the crazy ones. The misfits. The rebels. The troublemakers. The round pegs in the square holes. The ones who see things differently. They're not fond of rules. And they have no respect for the status quo. You can quote them, disagree with them, glorify or vilify them. About the only thing you can't do is ignore them. Because they change things. They push the human race forward. And while some may see them as the crazy ones, we see genius. Because the people who are crazy enough to think they can change the world, are the ones who do.”
― Steve Jobs
I think it actually worked the other way. A lot of folks had only occasional interactions with these companies before. But during the pandemic they had to use them more, so they had to experience more failures. Since negative experiences tend to dominate in our minds, the overall "trust" decreases.
Like what?
They're all spying on us and then losing the private data at incredible rates. I think I got three breach disclosure emails this month already.
As long as these platforms have one single user, they have someone’s trust.
You know...for our own good because we can't be trusted to read
* its not about political affiliation (confidence drop higher in right-leaning groups)[1]
* it is about education, the least educated show less confidence drop
* it is about addiction, heavy users show less confidence drop
[1] Though ultimately it is about politics, in the sense of what kind of market regulation one supports, the role of the public sector etc.
It's funny that you have to mention that its regardless of right-leaning groups suffering the greater drop. I guess we can now openly say that these companies do have left leaving political affiliation, but in some cases this simply isn't a factor.
For the wealthy and corporations.
I’d love to have an open non-profit alternative to Google’s productivity suite, but realistically it’s very hard to host those things outside a traditional for profit business. Building the open source software is the easy part, and has been done already. The hard parts are things like email deliverability, and getting people to pay for what’s typically a free ad-supported service.
OP has a point - the incentives for tech companies are profoundly fucked right now. We need to get the profit motives aligned with the good of society.
Basically you want a healthy mix of commons infrastructure and private enterprise that respects common values and promotes innovation. Its not rocket science but of-course decades-long inaction makes it feel like having to move mountains.
I have professional experience with all of the technologies involved and the biggest hurdles are getting time to work on it and dealing with the absolute horror that is HTML/CSS/Mobile. Once I can get enough built I can farm that out to someone else, though. In the meantime I'm still hoping to win the lottery while not wasting any money on tickets :)
Nonprofit employees have salaries. It was a nonprofit co-op they would have even more control over their lives.
If you want one producer to many consumers, many producers to one consumer publishing platforms, those also exist. PBS and NPR are nonprofit platforms anyone can consume from and anyone can attempt to publish to, but they have to adhere to basic content-worthiness and editorial standards.
What I think you really want, and why YouTube, Twitter, and TikTok became so popular in the first place, is a platform to which anyone can publish anything, provided it isn't illegal or offensive to the platforms' more limited but not completely non-existent content guidelines, and some sort of promotional feed for that content gets directly pushed to consumers to facilitate discoverability of producers who are not already famous by some other means.
File storage seems largely orthogonal from the consumer point of view. People can already put more video than they can watch in a lifetime, more text than they can read in a lifetime, on disks they personally own. It's the producers of regularly-uploaded, new multimedia streaming content that need someone else's disk space to serve their own content from. The dilemma seems obvious here. If you place no restrictions other than it can't be illegal on what anyone can serve to others, you've promised the world effectively infinite disk space. How can a nonprofit do that, keeping in mind that nonprofits need to have some sort of mission that puts them in a legal category making them eligible to incorporate as a nonprofit in the first place? For PBS and NPR, they serve an educational mission that qualifies them under 501(c)(3). But in order to do that, they need to have an editorial standard. They have to publish content that is actually educational.
I'm actually curious now how Signal qualifies, as Signal Foundation is also a 501(c)(3). The IRS gives the following guideline:
> The exempt purposes set forth in section 501(c)(3) are charitable, religious, educational, scientific, literary, testing for public safety, fostering national or international amateur sports competition, and preventing cruelty to children or animals. The term charitable is used in its generally accepted legal sense and includes relief of the poor, the distressed, or the underprivileged; advancement of religion; advancement of education or science; erecting or maintaining public buildings, monuments, or works; lessening the burdens of government; lessening neighborhood tensions; eliminating prejudice and discrimination; defending human and civil rights secured by law; and combating community deterioration and juvenile delinquency.
Pro Publica's database lists them under the National Taxonomy of Exempt Entities category "Community Improvement, Capacity Building / Business and Industry" (https://projects.propublica.org/nonprofits/organizations/824...), but this isn't a legal category.
I guess ask a lawyer, which I am not, but I suspect a prospective YouTube/TikTok replacement trying to convince the IRS they deserve to be exempt from taxes is going to have a tough time.
They have three software developers earning between $457k and $602k per year.
Personally, Apple and now Kagi are the only companies I like to give money to.
Apart from that, I like to donate time and money to open source.
Erm no, my MacBooks have had USB-C for a while, as USB-C is better for data transfer.
Their proprietary version for phones predates USB-C, because it was far better than the alternative, and it presumably added competition that meant USB-C needed to exist and be invested in. That won't happen again, or at least in the EU markets.
Also, the new law has nothing against making a better port than C so I think you are mistaken.
It’s pretty obvious (to me) that Apple was going to go USB C on the iPhone, but that they didn’t like the precedent of being told to do so ( they had already done it on the iPad).
And the reason Apple didn't want to go to USB-C is because of money. Selling proprietary, licensed products to hundreds of millions is too lucrative.
Reversibility doesn't matter to normies? News to me.
How does that work, if they have to use USB-C?
Page 17 of the law document.
> The Commission shall continuously assess market developments, market fragmentation and technical progress with the view to identify categories or classes of radio equipment capable of being recharged via wired charging for which the inclusion in Part I of Annex Ia would lead to significant consumer convenience and reduction of environmental waste. The Commission shall report such assessment to the European Parliament and to the Council, for the first time by [3 years after the date of entry-into-force of this Directive] and every 5 years thereafter, and adopt delegated acts pursuant to Article 3, paragraph 4, first subparagraph, point a) accordingly
Laptops with USB 2 ports were still popular after C was introduced. They just get phased out eventually. Your Mac now only has USB-C isn't it?
The correct answer is that it will be proven in markets that promote the sort of competition that got us modern smartphones in the first place.
Not surprised at all to see the massive drop in trust in Twitter for example. I think it was a healthy choice to drop all my social networks utilisation - happy I did.
Google is packed with advertisements now, their browser is now a direct feed to advertisers. Windows 11 is an online-always garbage OS that bombard you with unwanted promoted noise you can’t remove. LinkedIn is inundated with ads now.
Something has got to give. We are going to make new solutions that don’t have all this bullshit.
Ubuntu, on the other hand, tries to sell me on Ubuntu Pro and Expanded Security Maintenance for Applications every time I log in. But I haven't looked into how to disable it so I won't make a false claim that it's something "you can't remove."
I will throw shade at Ubuntu, as well. There's a ton of privacy and UX switches you need to flip just to make it your OS. And even then, it's got snap, so who needs it?