Industry would be more competitive if FAANG were regulated appropriately IMO. But a lot of comp in tech is benchmarked against FAANG. Specifically if you are a

Industry would be more competitive if FAANG were regulated appropriately IMO. But a lot of comp in tech is benchmarked against FAANG. Specifically if you are a startup trying to hire top 80th-90th percentile people. If their pay fell, I'm pretty confident the top end of industry pay would as well, despite more competition/productivity. Median pay likely unaffected. Even when you consider the low marginal cost to produce SaaS and similar, the same is true of any competitor. So you'd expect a highly competitive cloud (e.g.) landscape to be low margin despite low cost to provide. Looking specifically at Azure, AWS, Google Cloud... They become somewhat of a local monopoly over their customers due to costs of switching. The higher barrier/cost to switching to a competitor, the greater pricing power the company has. Even considering that the first choice has a lot of competition. Anyway, long story short, I think regulation that enables low cost of switching is inevitable in the longer run. As this provides the most competitive landscape, this highest net benefit to society. Would need to be crafted intelligently though.