Digital Monopolies

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Microsoft, Apple, Amazon, Alphabet (Google) and Facebook are the 5 largest companies in the USA. Why? Because they are all natural monopolies due to network externalities. Twitter is also a monopoly. These monopolies have the unaccountable private power of spying on and banning users arbitrarily from this important cultural infrastructure.

Links

Amazon’s Monopsony Is Not O.K. [More...]
As the major wholesale buyer of books (and especially ebooks), Amazon has huge monopsony power over publishers. It abuses that power, ultimately hurting authors and readers.
Big Tech: The New Predatory Capitalism [More...]
"The five largest global corporations by market value are the five tech firms named above... We already know these firms have crippled entrepreneurship... We already know they’ve concentrated economic gains in a few small enclaves... The question is no longer whether we have a problem with Big Tech; it’s what we’ll do about it."
Break 'Em Up: Recovering Our Freedom from Big Ag, Big Tech, and Big Money (book, online) (1 link)
"Every facet of American life is being overtaken by big platform monopolists like Facebook, Google, and Bayer (which has merged with the former agricultural giant Monsanto), resulting in a greater concentration of wealth and power than we've seen since the Gilded Age. They are evolving into political entities that often have more influence than the actual government, bending state and federal legislatures to their will and even creating arbitration courts that circumvent the US justice system. How can we recover our freedom from these giants?"
Facebook and Google surveillance is an ‘assault on privacy,’ says Amnesty International [More...]
The tech giants’ business model is at odds with human rights, according to a new report.
From Territorial to Functional Sovereignty: The Case of Amazon [More...]
"[Major digital firms] are no longer market participants. Rather, in their fields, they are market makers, able to exert regulatory control over the terms on which others can sell goods and services... persons will be increasingly subject to corporate, rather than democratic, control."
Google Is as Close to a Natural Monopoly as the Bell System Was in 1956 [More...]
"Media scholar Jonathan Taplin, author of the new book Move Fast and Break Things, on the rent-seeking and regulatory capture of digital platforms."
Is It Time to Break Up Google? [More...]
"We are going to have to decide fairly soon whether Google, Facebook and Amazon are the kinds of natural monopolies that need to be regulated, or whether we allow the status quo to continue, pretending that unfettered monoliths don’t inflict damage on our privacy and democracy."
Markets Today Are Radically Different Than What We Believe -- We Have the Façade of Competition [More...]
"Will the collection of consumer data by digital platforms ultimately expand choice and empower consumers, or will it be used to diminish consumer surplus?"
The Decline of American Journalism Is an Antitrust Problem [More...]
"Weak antitrust enforcement set the stage for Facebook and Google to extract the fruits of publishers’ labor. We won’t be able to save journalism and solve our disinformation problem unless we weaken monopolies’ power."

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