Tech Superpowers – A Force to Reckon with

As we all know there are five technological powerhouses in the market, and all are American. These include- Amazon famous for its online store, Apple which changed the mobile industry, Facebook which helps us keep connected, Google’s parent company Alphabet for helping us search about anything and everything and Microsoft whose operating system is so easy to use!

Tech Superpowers - A Force to Reckon with
Tech Superpowers - A Force to Reckon with

These American companies together with three innovative Asian companies which are Alibaba, Tencent and Samsung are taking over the most valuable companies.

These companies have the power to change global technological habits, with its immense market capitalization and influence. The rise in stock prices of these companies has increased to unbelievable amounts. For example shares of Alphabet are now at 22 times the amount it first sold shares in August 2004. Tencent is now worth more than 441 times its IPO price!

These companies identified potential like the internet when it was booming and rode on that wave influencing consumers. This, as a result, leads to them taking over and investing in several countries around the world. For example, Alibaba even has interest in an online grocery company in India.

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In South Korea, companies like Samsung are called chaebols which is a large industrial conglomerate that is run and controlled by an owner or family in South Korea. There is a fierce backlash against chaebols which need to be rechecked with these companies.

The monopolies that the super eight are trying to take control of, is not fair in terms of market practice. Let’s take a look at the American companies; they are all regulated by the antitrust law of the United States. This law ensures fair competition but for the benefits of consumers. What needs to be reenacted in this case is what about other companies, the likelihood of companies shutting down; hence leading to a sudden fall in employment can be a huge repercussion.

If these super companies gain monopoly then they will end up controlling every aspect of that field.  A more disciplined regulatory intervention against these super companies should be discussed.

Last year, Google was fined a whopping 2.42 billion Euro fine for the competition abuses related to its shopping business. These type of extreme fines could tame the superpower companies into ensuring a more competitive market which benefits both the companies and consumers.

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A hustler, who believes there is a solution to every problem. There are two ways of succeeding in life - by working hard and by working smart with the right mix of both. I am a 27 Years old Entrepreneur, currently living in the IT Hub of India, Pune and an extremely friendly and optimistic person. I was born and raised in the beautiful island of Sri Lanka and have run businesses ranging from Agriculture to the Digital World all over the world. I have had crazy Experiences in Asian Busy towns like Mumbai and Kuala Lumpur to African nations such as Madagascar. My passion is creating solutions to the everyday problems by using the right connections and the right approach. Always ready to learn, everything and anything. Love the Gym, the Beaches and Travelling! Believes that Media can change the world into a much better place, by reaching out with the right news and opinions! However feels that maintstream media is bias, with The Policy times in the picture media will benefit the world.