Thursday, December 21, 2017

The Huge Power of FANGs

Rana Foroohar, in the Financial Times, cites the McKinsey Global Institute in writing of “the huge power of the Fangs—Facebook, Amazon, Netflix, and Google—which now dominate not just the digital business, but the entire economy.”
“Eighty percent of corporate wealth now resides in 10 percent of companies rich in intellectual property, of which the platform companies are the richest.”
And, what is it that these companies control?
The currency of the digital age -- data.

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