The mere existence of the web has ended an era and started another; one that is defined by mindblowing technologies and a different way of life. Imagine what life in the 70s, 80s, 90s, and early 2000s were. If you weren’t personally living through these times, it is quite hard to relate to, right? Even when you watch old TV shows and movies, seeing how people lived during these times will make you wonder how they survived without getting bored to death. Yes, boredom is something that the Internet has virtually rendered irrelevant. How can you even say that you are bored anymore when you can do lots of things on the web and you won’t mind the hours ticking by. If you think about Internet innovation or the continued advancements on the web today, America is almost always at the top of people’s mind because most big tech companies are found here. However, experts have noticed how these very same big tech brands seem to be dampening the Internet’s progress, thereby preventing the growth of small startups from stealing a piece of their pie. After all, business comes first. We may have seen many of the major breakthroughs made their debut on American soil but big tech brands end up monopolizing the industry in general.
(Via: https://www.aei.org/publication/ensure-internet-innovation/) If you look at the World Wide Web today, there are five companies that stand out among the rest whose power and influence spans continents and we'll call them as the frightful five. In a world like ours today that is defined by technology, smart gadgets, and the Internet of Things, it is easy to easy how these companies have built their empires that even governments pale in comparison to the extent of their ability to dictate society, our way of life, and the future of mankind. What many of you are not aware of is that these companies also own a bunch of other businesses that roughly got everything else covered that matters in this planet making it doubly harder for other businesses to thrive.
How do they trump innovation then, one might ask. Well, by dominating the market, they limit the opportunity for small businesses to prosper or for them to even have a fighting chance to get their names out there. The irony here is that they make money every single time these smaller businesses use their online platforms while the average entrepreneurs struggle to make ends meet and rise above the endless competition. You don’t even have to look far to understand how this monopoly works. All you need is to simply check out the web. There are many smaller tech businesses in there, true, but they still need to get their business heard using any of the frightful five as platforms. They may make money but the five still makes the most money as they earn from other people’s success as well, thereby killing not only innovation but these businesses as well. The article de482eb4182815e4397bda7e9c10d3fd88d8e09da808395d54f8dd885ae330e2de482eb4182815e4397bda7e9c10d3fd88d8e09da808395d54f8dd885ae330e2postlinkde482eb4182815e4397bda7e9c10d3fd88d8e09da808395d54f8dd885ae330e2de482eb4182815e4397bda7e9c10d3fd88d8e09da808395d54f8dd885ae330e2 Read more on: The IPac Action Blog via https://ipaction.org/blog/the-frightful-five-and-internet-innovation/
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