Big Tech’s small biz squeeze

While Apple, Google, Amazon and Facebook all started as tiny operations in garages and dorm rooms, it's hard to imagine any of them being displaced by new startups today. President Biden's sweeping new executive order targeting big business is the most ambitious effort yet to clear space for challengers to thrive — but still faces daunting odds.

Why it matters: Tech's giants are now dominant economic forces, and the Biden administration says their market concentration may be undercutting the next generation of competitors. Biden's order calls for federal agencies to take action to reduce industry concentration, but today's tech industry is built around a "big fish eat little fish" ecology that will be hard to change.

What he's saying: "What we've seen over the past few decades is less competition and more concentration that holds our economy back," said Biden, noting the potential dangers of the biggest companies. "Rather than competing for consumers, they are consuming their competitors."

Leave a Comment