BIG TECH BULLIES

Big Techs have become big bullies

Facebook & Google were recently in a spat with the Australian government which didn’t end well for the other latter

Is there any region of the world where the big techs are not in troubled waters — either for antitrust regulation, breach of privacy laws, or taxation on their services? The noise has now spread beyond the United States and Europe where such measures are already being considered. The latest in this unfolding drama took place in the Land down under of Australia.

The market dominance of these big techs has grown in their influence over the years, literally exploding during the pandemic as they became sort of essential services to the locked-down billions. In the process, these tech giants have either become too big for the competition or they just swallow the competition outright.

A dispute erupted in recent weeks between the Australian government the tech giants, Google & Facebook. The Aussie government introduced legislation that intends to pass the world’s first law to address the media’s loss of advertising revenue to these two US tech firms. You see FB & Google together take more than 80% of the advertising revenue online, leaving the rest of the media outlets with a tiny share.