A flight to the top at the world’s most established technology companies is no longer the most sought-after route to success.
Facebook, Amazon, Netflix and Google — the aptly named FANG companies — are coming under increased scrutiny for their total market dominance. In their respective but more frequently overlapping areas of focus, these giants have collected enough information to hold an alarming amount of global influence. Chief among that, and perhaps most concerning, is the amount of data collected on us, the everyday users. Well past their inflection points, and with every single usage, these companies are woven deeper into the fabric of our lives. Some might even say more emphatically that they have become our everyday lives.
Longtime technology follower David Kirkpatrickwent as far as to say that the big breakthrough industries of the future will be characterized by meaningful barriers to entry — best-placed for those who own the most data. Groundbreaking innovations that fall within AI — like autonomous cars and specific advances like augmented reality — require significant capital and data, priming those markets for domination by an established core with deep pockets.