4 ms·
Not sure if it counts, but one of the main reasons US big tech is big is bc it was largely sponsored by federal reserve stimulus over the past 14 years.
by sheeshkebab 4y ago
Not sure if it counts, but one of the main reasons US big tech is big is bc it was largely sponsored by federal reserve stimulus over the past 14 years.
- lotsofpulp 4y agoDid the tech companies in question receive federal reserve stimulus over the past 14 years? I find it hard to believe that the businesses selling the highest profit margin products and posting the highest profits received stimulus funds. A likelier explanation for how big tech got big is that they delivered something of very high utility to people around the world and it has low marginal costs and high barriers to entry for competitors.
- smoldesu 4y agoStimulus isn't a huge part of it, but it's hard to deny that the US has ample safety nets for domestic business. The larger problem is our Laissez-faire attitude towards tech regulation and already predatory consumer practices. The US government has had considerable oversight over Big Tech for at least a decade, but it refuses to roll out consumer protections when Democrats or Republicans are in office. The European market balks at the stuff Google and Apple get away with, and rightfully so. Our regulators, legislators and executive leaders all turn their backs on software distribution and internet regulation because it makes us so much money! The US lives or dies on the health of it's economy, it should be no small secret that our leadership will keep these companies on life support as long as they can.
- RayVR 4y agoThis is utter nonsense