Google and the rest of big tech are like the Jupiter of the tech world. It clears the orbit of anything else that could form.
Big tech is so big that it can jump into new markets with ease, kill incumbents, snuff out new players, and perpetually tax non-innovation.
We're twenty years behind on antitrust and breakups. It's time we had a forest fire to make way for new growth.
That’s why everything’s so insanely consolidated now. Practically every market has a handful of massive players all of which would currently be under serious threat of break-up under the old approach to enforcement. It’s all monopoly.
https://medium.com/@kazeemibrahim18/the-post-ipo-performance...
> In aggregate, the average return across these YC companies is -49%, with a median return of -46%. To put this into perspective, over the same period, the S&P 500 yielded a positive return of 58%
And for the rest of the companies, they aren’t trying to compete with BigTech, they are trying to get acquired by them. Out of the literally thousands of companies that YC has invested in, only about two dozen have gone public
The end game for these unicorns is to become the cash hoard that they intended to compete with.
I'm fine with that. Let them make money at the expense of big tech.
Breaking up big tech benefits financial/venture capital, but it also benefits labor capital as well. More opportunity for more startups to succeed, more competition for engineering talent, less market distorting wage collusion.
Big tech already won. It's benefactors already reap the benefits. Break them up and a new generation of engineers can grow wealthy on the field they contribute their labor to.
Right now the proceeds of tech go to hedge funds and pension funds. It's venture capital and entrepreneurs that take risks. They're the ones that should see upside. Unfortunately, big tech monopolies put a ceiling on this.
So if Google wasn’t a “monopoly” you think a startup could make a better search engine? Be more popular than Android - Microsoft tried both and failed because people prefer Google products. It wasn’t for the lack of money.
And engineers are getting wealthy - by working for BigTech. Even an entry level developer at BigTech makes more than 90% of workers.
Google has created many more millionaires than YC. The only way that you could be a millionaire by investing in YC companies at IPO would be to be a multimillionaire and lose half your money.