Is it now really the time to break up big tech? Some say there’s no need to hurry. Let’s move forward to discover more about this topic, as well as find out where you can get a secure and low cost tech support merchant account for your business.
Breaking Up Big Tech: Tech Support Merchant Account
Amazon, Apple, Facebook, and Google are being scrutinized these days in an unprecedented way. The U.S. Department of Justice and the Federal Trade Commission intend to carry out antitrust investigations into these companies.U.S. government has barely had “anticompetitive” concerns about these giant companies, but the attitude is changing.
Did you know that FB’s Mark Zuckerberg, Amazon’s Jeff Bezos, and Google’s Sergey Brin and Larry Page have more combined wealth as compared to the combined wealth of the bottom half of the American population?
What’s more, Amazon, Apple, FB, Google, and Microsoft now own the highest market values for all public corporations in the U.S. Besides, currently, there’re only 3 countries with a GDP higher than the mentioned giant companies’ combined market value of about 4 trillion dollars.
Moreover, almost 90% of all internet searches are currently associated with Google. Also, FB and Google together were estimated to represent almost 60% of all digital ad spending this year. What about you?
Are you using the right merchant services to grow your business successfully? If not, it’s high time you turned to a reputable payment processor that can best help you with secure and cheap payment processing services, including a tech support merchant account. With a true payment specialist that knows your industry well, you can make headway easily.
The Idea of “Breaking Up Big Tech”
Monopolies are fine only for monopolists. This is especially true of those cases when they have an impact on the way elections are organized and how people in the U.S. get information. However, the atmosphere around monopolies is changing.
It’s still unclear whether the activity aimed at “Breaking Up Big Tech” will end up with meaningful regulation or not. Besides, it’s still soon to tell what it might look like. However, according to some politicians and activists, everything is quite clear: it’s necessary to break up Amazon, Apple, FB, and Google Facebook into smaller parts.
On the other hand, some experts are unsure ifusing antitrust laws to break up Big Tech (at least in the proposed way) would resolve the issues like privacy that lawmakers and citizens are worried about.
By the way, one of FB’s founders is for breaking up the giant social media platform. Besides, Senator Elizabeth Warren has put forward a proposal to put this idea into implementation. The proposal suggests making these platforms more competitive or breakingthem up into smaller companies. Did you know that the E.U. (European Union) fined Google almost 3 billion dollars for antitrust violations in 2017?
To sum up, regulators in the U.S.are taking measures to bring antitrust suits against the major players in the tech space in the U.S.This is only the start: there’s a long path to cross.
Author Bio: Electronic payments expert Blair Thomas is the co-founder of high risk payment processing company eMerchantBroker that offers the most reliable and cheapest tech support merchant account in the space. He’s just as passionate about his business as he is with traveling and spending time with his dog Cooper.