A Quote by Brad Stone
On Sept. 12, 2016, there was a momentary realignment in the constellation of global business. For the first time, the five largest public corporations in the world by market capitalization were all technology companies: Apple, Alphabet, Microsoft, Amazon.com, and Facebook.
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My guess is that Apple won't just pass Microsoft in market capitalization, but will go way beyond it.
The United States ran the table on Internet innovations, creating companies like Google, Facebook, Microsoft, Intel, Apple, Cisco, Twitter, Amazon, eBay, YouTube, and others. Europe and Japan scarcely contributed.
Facebook's a wonderful, incredible way to bring humanity together. They've brought together 2 billion people in the largest fictional family in history. So young people are starting to empathize with each other through Facebook across the globe. This is wonderful. However, when everyone needs Facebook because it's so successful that everyone's on it, then it starts to look like a global public utility, a public good. Same with Amazon.
Facebook is in a very different place than Apple, Google, Amazon, Samsung, and Microsoft. We are trying to build a community.
Apple knows a lot of data. Facebook knows a lot of data. Amazon knows a lot of data. Microsoft used to, and still does with some people, but in the newer world, Microsoft knows less and less about me. Xbox still knows a lot about people who play games. But those are the big five, I guess.
Generally, the technology that enables disruption is developed in the companies that are the practitioners of the original technology. That's where the understanding of the technology first comes together. They usually can't commercialize the technology because they have to couple it with the business model innovation, and because they tend to try to take all of their technologies to market through their original business model, somebody else just picks up the technology and changes the world through the business model innovation.
Facebook, Amazon, Apple, and Microsoft are building their own versions of the future. And they get bigger and bigger.
Think of everything in Seattle - Microsoft, Amazon, Starbucks. Then you go down to Silicon Valley - Intel, Apple, Google, Facebook, Twitter. What does New York produce?
Today, we have our own concentrations of economic power. Instead of Standard Oil, U.S. Steel, the Union Pacific Railroad, and J. P. Morgan and Company, we have Amazon, Google, Apple, Facebook, and Microsoft.
I have been able to attend many technology conferences around the world over the years, including some of the largest, like Google I/O, Microsoft's Developer Conference, Apple's WorldWide Developers Conference, Oracle World, Le Web, and more.
Corporations like Google, Facebook, Amazon, all of these large companies, are making tens or hundreds of billions of dollars off of monetising people's data.
Google, Facebook, Amazon, Apple are among the most powerful monopolies in the history of humanity. So, the problem is, is that they have tremendous ability to shape the way that we think, the way that we filter the world, the way that we absorb culture. And if they were just companies, maybe we shouldn't be so concerned about them, but they play an incredibly vital role in the health of our democracy.
Today's stock market actually hates technology, as shown by all-time low price/earnings ratios for major public technology companies
Today's stock market actually hates technology, as shown by all-time low price/earnings ratios for major public technology companies.
Established technology companies like Amazon, Apple, and Google have expanded their reach and influence throughout the world. And while many countries have pushed back against that spread, our government has essentially left them alone.
For the first time we're allowing developers who don't work at Facebook to develop applications just as if they were. That's a big deal because it means that all developers have a new way of doing business if they choose to take advantage of it. There are whole companies that are forming whose only product is a Facebook Platform application.
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