I’m torn on this one. On one hand, breaking up the Big Tech firms would seem to achieve the intended goal of curbing their dominance and aid fairer competition in the market. On the other hand, true entrepreneurship is about building enterprises bigger and better for the common good. In the words of PayPal co-founder Peter Thiel: “If you get a creative monopoly for inventing something new, I think it’s symptomatic of having created something really valuable.”
The question has to be asked: what is the intended outcome of the proposed breakups? If it is to end their monopoly and strengthen democracy in the process, then breaking up Big Tech will not actually solve the issue. As an example, Jeff Bezos could simply decouple Amazon Web Services from Amazon and list it as a separate public company.
In my view, breaking up Big Tech will not solve the problem. The answer could possibly be found in higher taxes and more stringent regulation regarding consumers’ online privacy.
Mario Singh
Chief Executive Officer
Fullerton Markets
