What a great post! I was just talking to a friend about this the other day.
We debated about whether or not the government would interfere with some of these company’s practices (aka Facebook rebuilding Snapchat and branding it as “Instagram”).
However, as Peter Thiel showed in his book; “Monopolies lie to protect themselves. […] Usually by exaggerating the power of their (nonexistent) competition.
Think about how Google talks about its business.”
He then shows how it would be bad for Google to talk about itself primarily as a Search Engine since they own about 68% of the market.
Instead, they say they’re primarily an advertising company. Since global advertising is a $495 billion market, Google ‘only’ owns 3.4% of that market. Which makes it look like a small player.
I think FAMGA learned from ‘United States v. Microsoft Corp.’
Would you agree? Or do you think the US will drop its mighty hammer on FAMGA at some point? Surely companies like Snapchat and Meerkat will hide behind lady liberty’s garb while cheering her on.
Love reading about this subject! And adding the word ‘FAMGA’ to my vocabulary. Thanks!