For the past decade, the loudest arguments waged regarding the Four (Amazon, Apple, Facebook, and Google) were about which CEO was more Jesus-like or should run for president. These platforms brought down autocrats, were going to cure death and put a man on Mars, because they are just so awesome. Media outlets were coopted into serving as the investors relations departments of the Four while drinking up the biggest lie in modern business — “Information wants to be free.” They let big tech crawl, parse, and resell their IP, catalyzing an extraordinary transfer in wealth from the creators to the platforms.
I agree with this view, the suspension of disbelief around the “surveillance engines” that Facebook, Amazon and Google have built is coming to a rapid end. Scott Galloway has picked up on this trend and puts a strong view forward.
Curing, rocketing, leaning in — no more. The worm has turned against big tech, and it’s overdue. The tipping point was the recent revelation that Mark Zuckerberg had unwittingly become Vladimir Putin’s bitch. However, each firm has its own links to the dark side and is about to face the same scrutiny and standards the rest of business endures.
This week we saw Uber losing its license to operate in London, in large part because of its bad reputation and failure to operate as socially sensitive business. The UK Government has discussed new taxation schemes for tech companies to force them to pay tax and the EU government is issuing billion dollar fines. These governments have nothing to lose here, these companies pay nearly zero tax. If citizens turn against the tech companies this enables governments to pursue them aggressively.
You really must read this article. If the worst case becomes real, there are second order effects that affect all technology companies.
The Worm Has Turned | The Daily | L2 : https://www.l2inc.com/daily-insights/no-mercy-no-malice/the-worm-has-turned