Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ “This is the beginning of the end of Big Tech as we know it”: Professor NYU Galloway

“This is the beginning of the end of Big Tech as we know it”: Professor NYU Galloway



“It’s time to go back to our roots and split Big Tech to oxygenate the market,” said NYU marketing professor Scott Galloway.

“The market is beginning to collectively recognize that when all the rubble is concentrated among fewer and fewer companies, it creates an unhealthy ecosystem and an unhealthy economy,” Galloway told Yahoo Finance of The Move.

AAPL) and Facebook (full board) touched fresh tops while Amazon (AMZN) jumped more than 4% after a quarter of a blow, despite the ongoing pandemic. On Friday, shares of Apple (AAPL) and Facebook (FB) touched fresh highs, while Amazon (AMZN) jumped more than 4% after the blow, despite the ongoing pandemic.

Amazon reported record profits as people shopped at home during the COVID-19 outbreak.

“The first withdrawal is that it’s fantastic to be an unregulated monopoly in a pandemic,” Galloway said.

T) TwitterTWTR) and Pinterest (PINS), “Said Galloway.” Data-reactid = “25”> “These companies in the first 15 minutes announced the closure of the market yesterday, published a profit announcement. Added the value of AT&T (T) Twitter (TWTR) and Pinterest (PINS) – said Galloway.

“And yet, according to Mark Zuckerberg, there are competitors attacking him from everywhere,” he added.

GOOGL) testified before the deputies during a 5-hour antitrust hearing. The gains in jaw dropping came just a day after Amazon, Apple, Facebook and Alphabet (GOOGL) CEOs testified before lawmakers during a five-hour no-confidence hearing.

make a case of why the social media platform is not an illegal monopolyand in fact behind its competition. Facebook CEO Mark Zuckerberg has filed a lawsuit over why the social media platform is not an illegal monopoly, but actually behind competition.

“After watching the hearings, I thought again that this was the beginning of the end of the great technology as we know it,” Galloway said.

“And I think we need to move away from the construction to believe that this is some kind of punishment or they did something wrong,” he added.

“I think America has a proud legacy of antitrust when every company becomes so powerful that it starts cutting off oxygen from the sector and the rest of the economy. “We are entering and oxidizing the economy by destroying this company,” he said.

“By the way, as a shareholder in Amazon and Apple, I think the value of my shares increases after they announce that they are falling apart,” he said. “I think AWS will be the most valuable company in the world as an independent company in 3-4 years.”

The cloud e-commerce business Amazon Web Services grew 29% year-over-year.

“I think this is the beginning of the end, even if Trump is re-elected. I think there will be some action if Biden is elected – he will go faster. But we have already passed because … we are oxygenating the market. “

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@ines_ferre“data-reactid =” 49 “>Ines covers the US stock market. Follow her on Twitter @ines_ferre

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