Contact us today!
561-795-2000 
844-795-2001

FRS Pros Blog

Should Big Tech Be Reined In?

Should Big Tech Be Reined In?

It’s not a secret (well, not anymore) that the big tech companies have influence. These companies, that include Apple, Google, Amazon, and Facebook, have been in the spotlight more and more as the argument of data privacy has gotten louder and louder. Public sentiment is starting to blow back on their business model--and since, Yahoo, once the predominant name in Internet-based services, was broken up and sold to Verizon for cents on the dollar after being at the center of the largest data breach in recorded history--there have been rumblings that there has to be something done to protect the public from major publicly-traded technology companies that use individual’s data in ways that some deem unethical.

What’s the Situation?

What is often referred to as the “Big Four” (Amazon, Apple, Facebook, and Google)--and sometimes referred to as the “Big Five” (adding in Microsoft or Netflix, but somehow never both)--are some of the most lucrative and successful companies in world history. Their influence is pervasive in our society. As a result of their enormous reach, economists began to argue that Big Tech has gotten too big and needs to be reined in. 

It’s only been in the past 18 months that politicians have started to listen. In an intriguing OPED in the New York Times Chris Hughes, one of the founders of Facebook--who has moved on to other things--suggested it was time to break up the social media giant because it gave Mark Zuckerburg and the other decision makers at Facebook far too much power. He is not the only voice suggesting something has to be done either. Harvard economist and former IMF chief, Kenneth Rogoff, who writes at length of Big Tech’s ability to stymie competition by buying out even indirect competitors, also believes that Big Tech needs oversight. 

In the summer of 2019, it finally came to a head, and the Federal Trade Commission and Department of Justice began investigations to determine if these major companies are operating on an even playing field. In July, the U.S. House of Representatives held hearings to see if these tech companies were killing off smaller competition before there was a market. Facebook alone owns social media giants Instagram and WhatsApp, leaving regulators skeptical whether these organizations were playing the same game as their competitors. 

Why They Do What They Do

So how do these huge corporations use their data? The same way many businesses do, but since they have access to so much data, the applications it fuels is far and away larger and more in depth than anything most companies can accomplish. We are talking about literally billions of people accessing these interfaces every day. For the millions of people that search Google every hour, the millions on Facebook, the millions watching YouTube, all of their actions create a user profile. When used, it provides users a very personalized experience. How many times have you seen ads in the sidebar that meet something you just searched for recently? How many times have you been suggested to see some media that matches what you typically watch?

What benefit would a business have from mining all this data? Why would there be a push from regulators and the public to break apart these entities; or, at the very least, give users more control over their own data? The answer is pretty easy to see. These organizations, despite a perceived lack of competition, and continual regulatory acts to stymie it, do present a great deal of value to consumers. I mean how much would you get done without Google Search? Would Google Search still be a viable product if Google didn’t mine and use all of a user’s data to make it so? These are interesting questions that won’t be answered any time soon. One thing that is certain, however, is that there are many people who are starting to question whether these organizations have grown too big to challenge, making a faceoff with regulators almost inevitable. 

Who do you trust more? The big four (plus Microsoft and Netflix) or the government officials looking to keep these companies from becoming monopolies? Leave your thoughts in the comments section below.

RFID Business Implementation
Can Apps Provide Secure Password Management?

Mobile? Grab this Article!

QR-Code

Tag Cloud

Tip of the Week Security Technology Best Practices Network Security Productivity Privacy Business Computing Internet Hackers Software Microsoft User Tips Google Cloud Business Management Innovation Efficiency Computer Hardware Tech Term Data Email Windows 10 Hosted Solutions Data Backup Communication Smartphones Cybersecurity Malware Mobile Devices IT Services IT Support Data Recovery Office 365 Upgrade Smartphone Android Browser Outsourced IT Internet of Things Gadgets Business Backup Apps VoIP Windows Small Business Workplace Tips Communications Data Security Phishing Saving Money Disaster Recovery Managed IT Services Users Cybercrime Business Continuity Ransomware Information Facebook Operating System Mobile Device Management Cloud Computing Automation Network Miscellaneous Law Enforcement Social Media Managed Service Server Employer-Employee Relationship Two-factor Authentication Vulnerability Money Artificial Intelligence OneNote Alert Passwords Managed IT Virtualization IT Support Health Blockchain Applications Spam Wireless Chrome Best Practice Collaboration Networking Microsoft Office Holiday Managed IT Services Managed Service Provider Save Money Computers Data Breach Access Control BYOD Printing Unsupported Software Augmented Reality Bring Your Own Device Router App Quick Tips Google Drive Telephone Systems Settings Tech Support Windows 7 Retail Data Storage Password Mobile Device Word Information Technology Hacking Patch Management Windows 10 Bandwidth Gmail Project Management Devices Payment Cards The Internet of Things Wi-Fi VPN iPhone IT Management Paperless Office Cost Management Update Shortcut Politics Budget Marketing Travel Mobile Security WannaCry History Wireless Technology Commerce Excel Vendor BDR File Sharing Data Management Fraud Google Assistant Hosted Solution Productivity Hybrid Cloud Evernote Search Voice over Internet Protocol Proactive IT Avoiding Downtime Sports Mobility SaaS Application User Error Encryption Telephony Touchscreen Safety Business Technology Cortana WiFi Going Green Social Software as a Service Data Loss Hard Drive Display Conferencing Government Audit Risk Management Robot Wireless Charging Data Protection Google Docs Meetings Inventory Windows Ink Chromebook Co-Managed Services Root Cause Analysis Digital Signage Entertainment Gifts Computing Alexa for Business Emails Cast Licensing DDoS Updates Camera Computer Fan Windows Server 2008 R2 Identity Theft Comparison Files Personal Information Financial Payroll Upgrades Facebook Privacy Outlook Recovery Employees Hard Disk Drive Office Microsoft Excel Disaster IT budget Management Scams Google Maps Spyware Telephone Firewall Credit Cards Reputation App store Employee eCommerce Data storage Microsoft Word Projects Mobile Office Vendor Management Specifications Virus Security Cameras Remote Computing Administrator OneDrive IT Solutions Smartwatch Scam PowerPoint Admin Virtual Private Network Break/Fix Webinar Hosted Desktop Education Lithium-ion battery Apple Hyperlink Processor Streaming Media Fiber Optics Tablets Maintenance Identity Printers Development Samsung Sales Proactive Machine Learning Consultant Sync Access Employee-Employer Relationship Server Maintenance Storage Social Engineering Wireless Internet Saving Time Remote Monitoring Remote Workers Chromecast Medical IT IT solutions Smart Devices Laptop Edge Value Wasting Time Benchmarks Legal Transportation FAQ Holidays NFL eWaste Data Privacy Micrsosoft Antivirus Private Cloud Websites Amazon Downtime Internet Exlporer iOS WIndows Server 2008 Investment Identities Gamification Keyboard Shortcuts Managed IT Service Charger 5G Windows 10s HBO Sabotage Troubleshooting Battery Touchpad Ciminal Accessory Myths Copiers Instant Messaging Hacker Uninterrupted Power Supply Device Security Computer Care Nanotechnology Business Intelligence Data Theft Virtual Assistant E-Commerce Screen Mirroring Emergency Adobe Workers Testing ROI Legislation Language Memory Human Resources Unified Threat Management Managed Services Provider YouTube Solid State Drive PC CRM Point of Sale Humor Computer Forensics Peripheral Threats Keyboard Black Market Cleaning Big Data Automobile Communitications Managing Stress PDF USB Worker Mobile Computing How To Books es Cache Hiring/Firing Text Messaging Video Games Experience Compliance Virtual Reality Thank You Training Monitors Work/Life Balance Current Events Electronic Medical Records Crowdsourcing Employer Employee Relationship Regulation Benefits Office tips Television CrashOverride Phone System Save Time Congratulations Advertising Company Culture Computer Accessories Smart Technology Twitter Flexibility Music End of Support HaaS Relocation Scalability Analytics