2018-01-12 07:37:00 Fri ET
technology antitrust competition bilateral trade free trade fair trade trade agreement trade surplus trade deficit multilateralism neoliberalism world trade organization regulation public utility current account compliance
The Economist delves into the modern perils of tech titans such as Apple, Amazon, Facebook, and Google. These key tech titans often receive plaudits for making the world a better place. However, some pundits accuse these giants of being BAADD or big, addictive, anti-competitive, and destructive to democracy. Politicians from European Union and to U.S. Congress grill their CEOs; regulators impose taxes and fines on these tech titans; and one-time backers warn of their power to cause harm.
Techlash complaints, privacy issues, and fake news are rampant these days. Big tech platforms, particularly Amazon, Facebook, and Google, raise grave concerns about fair competition and consumer protection because these tech platforms often benefit from legal exemptions. Unlike publishers and media firms, Facebook and Google rake in hefty ad profits with minimal monitor and responsibility for content curation. For many years, American buyers on Amazon need not pay sales taxes. Also, Apple keep its profits as large offshore cash stockpiles in order to legitimately avoid paying U.S. corporate income taxes.
These platform orchestrators provide digital infrastructure for online ad revenue, consumer data, and service provision. Most of their services appear to be free, but consumers need to pay for these services by giving away their personal data. Their high stock valuation reinforces digital dominance and market concentration.
For instance, Amazon accounts for about half of U.S. online sales while Facebook and Google attract 70% of online advertisements in America. It is highly likely for regulatory agencies to tame these tech titans by probing into privacy invasion and tax avoidance. Either these tech giants break up into smaller entities (as Alphabet now prepares for Google and other subsidiaries), or the tech titans pay in the form of taxes, fines, or compliance costs.
If any of our AYA Analytica financial health memos (FHM), blog posts, ebooks, newsletters, and notifications etc, or any other form of online content curation, involves potential copyright concerns, please feel free to contact us at service@ayafintech.network so that we can remove relevant content in response to any such request within a reasonable time frame.
2019-07-11 10:48:00 Thursday ET

France and Germany are the biggest beneficiaries of Sino-U.S. trade escalation, whereas, Japan, South Korea, and Taiwan suffer from the current trade stando
2019-04-25 09:35:00 Thursday ET

Bridgewater hedge fund founder Ray Dalio suggests that the current state of U.S. capitalism poses an existential threat for many Americans. Dalio deems the
2017-05-13 07:28:00 Saturday ET

America's Top 5 tech firms, Apple, Alphabet, Microsoft, Amazon, and Facebook have become the most valuable publicly listed companies in the world. These
2018-08-23 11:34:00 Thursday ET

Harvard financial economist Alberto Cavallo empirically shows the recent *Amazon effect* that online retailers such as Amazon, Alibaba, and eBay etc use fas
2021-08-01 07:26:00 Sunday ET

The Biden administration launches economic reforms in fiscal and monetary stimulus, global trade, finance, and technology. President Joe Biden proposes s
2018-01-08 10:37:00 Monday ET

Spotify considers directly selling its shares to the retail public with no underwriter involvement. The music-streaming company plans a direct list on NYSE