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No offense, but maybe the market cap of the wealthiest corporations in the world isn't the measure we should be looking at for society health. And given where t
by Zarath 8y ago
No offense, but maybe the market cap of the wealthiest corporations in the world isn't the measure we should be looking at for society health. And given where the world is headed, maybe we should be thinking about stifling tech.
That being said, this isn't the way to do it.
- pedro_hab 8y agoNone taken. I think its an valid indicative that EU is doing worse than the US, even if you disagree with the way wealth is distributed. I think tech (FAANG and what not) is over hyped. But broad tech is also the future, people's lives have seen a night and day difference around the world because of it. If we need to put up with some evil (wealth inequality) in order to have that much good, I'd say we should be at least careful stifling tech.
- bobthepanda 8y agoMarket cap is a pretty poor indicator of that. FAANG are so big mostly due to concentration and lack of competition in their sectors; EU antitrust/consumer legislation is more focused on providing consumer choice of businesses, whereas US antitrust is focused on competition of service. I think that in the current environment, the US is swinging way too heavily to overconcentration, crazy unicorn valuations and hype.