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A third of the rise in the S&P 500 stock market index this year is attributable to Apple Inc., Amazon.com Inc., Google parent Alphabet Inc., Facebook Inc. and M
by olivermarks 9y ago
A third of the rise in the S&P 500 stock market index this year is attributable to Apple Inc., Amazon.com Inc., Google parent Alphabet Inc., Facebook Inc. and Microsoft Corp.
That may mean the advances these companies represent are becoming economically significant. Internet sales, for example, now represent 9% of total retailing.
Above from Greg Ip/WSJ 'A Tech-Driven Boom Is Coming; Please Be Patient'. https://www.wsj.com/.../a-tech-driven-boom-is-coming-please-be-patient-1514390400 https://www.wsj.com/.../a-tech-driven-boom-is-coming-please-...
Given the lobbying power of these economically important global business platforms it seems unlikely local 'government' will do very much to rock their boat...
- solomatov 9y ago>Given the lobbying power of these economically important global business platforms it seems unlikely local 'government' will do very much to rock their boat... They will do. They did it in the past. See, for example, https://en.wikipedia.org/wiki/History_of_United_States_antitrust_law#Progressive_era https://en.wikipedia.org/wiki/History_of_United_States_antit...
- olivermarks 9y agoLast century antitrust (and local government) was powerful. This century the only notable (and arguably parochial) antitrust action was against MSFT https://en.wikipedia.org/wiki/History_of_United_States_antitrust_law#21st_century https://en.wikipedia.org/wiki/History_of_United_States_antit... We are now in a far more globalized economy, and the US profits from the dominant FMAG stocks and hegemony. The EU will definitely attack this, whether they have teeth is questionable.