Does big tech have too much power? FAAMG, short for Facebook, Amazon, Apple, Microsoft, and Google, were responsible for an astounding 68% of the United States’ GDP growth last year alone, leaving many to wonder whether they have grown ‘too big to fail.’ But that’s not the only concern for these companies, which control so much of our shopping, internet usage, and communications. Some are wondering whether these companies have too much power over our daily lives, as well.
Elizabeth Warren’s Plan to Break Up Big Tech
In March of 2019, Elizabeth Warren released an ad calling for the breakup of big tech companies. When Facebook removed the ad, it sparked a bipartisan backlash. Warren herself called into question why Facebook would shut down a debate about whether it had too much power, while even Ted Cruz spoke out in favor of Warren’s right to free speech and questioned why big tech was allowed to silence free speech.
Nine in ten Americans use Google for searches, while three quarters use YouTube. Seven in ten have a Facebook account, and two in three have purchased something on Amazon. Big tech has become part of the problem of lack of competition in the marketplace, leading many to assert these companies should be broken up into smaller companies. Learn more about the problem with big tech monopolies from the infographic below.