Today, large companies dominate the world’s wealth and resources. The world’s ten largest banks hold $25 trillion USD in wealth, roughly a third of the global GDP. Almost all consumer product brands that we see in North America are controlled by just ten companies. The digital world is no different. New York Times notes that Amazon, Apple, Facebook, Google and Microsoft are “getting larger, more entrenched in their own sectors, more powerful in new sectors and better insulated against surprising competition from upstarts”.
While the increase in sharing economies has helped to create opportunities outside of established markets, these economies are still centrally managed by intermediary companies such as Uber, Airbnb and Instagram. The result is that shareholders of these companies often receive more financial benefits than the network participants. Similarly, platforms that host ads directed at consumers take all the revenue from those ads, even though it’s the views and clicks from those consumers that generate the revenue. …
Today, we are announcing that Foro is acquired by Fundamental Applications Corp.
In the past two years, we worked extremely hard to build products that make people’s lives easier.
It’s been an incredible journey and we really appreciate all the support we’ve received from all of our amazing users, investors, advisors, friends and families and most importantly my teammates.
The team at Fundamental shares our passion to build excellent products for people and we’re thrilled about the impact we can make with them.