New York Times tech columnist Farhad Manjoo warns that the “frightful five” — Amazon, Google, Apple, Microsoft and Facebook — are collectively more powerful than many governments.
It’s difficult to get rhetoric about mobile phones and social networks when they might be ruling the world. It is interesting to find how the latest technology advancement are shaping the future.
The Frightful Five tech giants Apple, Amazon, Google, Facebook and Microsoft which collectively influence everything that happens in the tech world and also our global economy, this giants make up most influential companies on the US stock market.
What makes the Frightful Five frightful?
First of all we must consider the garter snake that all 5 companies are very, very big. And they play a huge roles in our lives personally and at social front. Living in this modern American life, it’s impossible to live without them and they kind of know more about us than any corporation in history. Nowadays they are more like government with the amount of wealth and power they have over society.
We can’t deny the fact how this giants have impact on the economy with election, the way they have change how retail works, with their impact on job market. And the most interesting part is how they are all working on AI –Artificial Intelligence. Their technologies have changed how people trade to earn money.
These companies are in the process of building the future of transportation in US, in the world. Few projects that are in their early stage of development are building self-driving cars, building drones. They are building infrastructure of next 20-40 years in ways that we used to expected government to do.
Big example is Amazon fleet of planes, drones used for their shipping business. It affect stores around you. Our physical world is being shaped by these companies. It’s kind of undeniable that these companies blanket the entire society in their technology, and you can’t really escape them.
When we are talking about these giants we’re also talking about the companies that are owned by these five giants’ tech companies. For example Facebook also owns one of the most popular social network in the world – Instagram. It also owns WhatsApp, the most popular messaging app. And you should know that Facebook itself reaches 2 billion people a month. Google owns the most searched video platform YouTube. This company also have their research lab called Google X and Google Brain which are looking at the ways how artificial intelligence do things one of which is medical diagnosis.
This is a huge change in how this industry works now versus how it worked back in past.
When I say that this companies are more like government with the amount of wealth they have is because how strongly they have hold the market, You should know that all app makers have to put their apps in the Google app store or Apple app store and 30% of their sell price goes to Google and Apple. Apps like Uber, Airbnb, Netflix and all the other smaller companies have to go through this giants to get to their customers. Ultimately what happens is other companies succeed, but always this giants benefits off of that success.
Yeah, it is difficult to get excited about technology anymore. Farhad Manjoo writes column about technology and basically tries everything there is on technology. As a writer he is more interested in sort of what’s going to happen with all this new stuff. But his default position about whether this stuff is going to be good or bad in the world has changed.