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.
2018-11-19 09:38:00 Monday ET
The Trump administration mulls over antitrust actions against Amazon, Facebook, and Google. President Trump indicates that the $5 billion fine against Googl
2018-04-13 14:42:00 Friday ET
Mike Pompeo switches his critical role from CIA Director to State Secretary in a secret visit to North Korea with no regime change as the North Korean dicta
2019-03-09 12:43:00 Saturday ET
Pinterest files a $12 billion IPO due in mid-2019. This tech unicorn allows users to pin-and-browse images through its social media app and website. Pintere
2017-01-17 12:42:00 Tuesday ET
Former Treasury Secretary and Harvard President Larry Summers critiques that the Trump administration's generous tax holiday for American multinational
2018-09-03 09:31:00 Monday ET
Amazon follows Apple to become the second American public corporation to hit $1 trillion stock market valuation. Amazon's founder and chairman Jeff Bezo
2019-06-25 10:34:00 Tuesday ET
Investing in stocks is the best way for people to become self-made millionaires. A recent Gallup poll indicates that only 37% of young Americans below the a