“It’s time to get back to your roots and break down Big Tech to” saturate the market with oxygen, “says Scott Galloway, NYU’s marketing professor.
“We are beginning to collectively recognize in the market that when all prey is concentrated on a declining number of businesses, it creates an unhealthy ecosystem and an unhealthy economy,” Galloway told Yahoo Finance in The On Move.
AAPL) and Facebook (FB) touched on fresh tall plants, and Amazon (AMZN) increased by more than 4% despite the ongoing pandemic. Shares of Apple (AAPL) and Facebook (FB) hit new highs on Friday, while Amazon (AMZN) rose more than 4% in the quarters after the ongoing pandemic.
Amazon earned record profits as people shopped at home during the COVID-19 outbreak.
“The first deprivation is that the unregulated monopoly during a pandemic is fantastic,” Galloway said.
T) Twitter (TWTR) and Pinterest (PINS), “Galloway said.” Data-reatid = “21”> “These companies announced the closing markets yesterday in the first 15 minutes, announcing profits. “AT&T (T) added Twitter (TWTR) and Pinterest (PINS),” Galloway said.
“And yet, according to Mark Zuckerberg, competitors are attacking him from everywhere,” he added.
GOOGL) testified against lawmakers during a 5-hour antitrust hearing“data-reatid =” 23 “> Jawbone earned just one day after CEOs Amazon, Apple, Facebook and Alphabet (GOOGL) testified against lawmakers in a 5-hour antitrust case.
has argued why the social media platform is not an illegal monopoly, and indeed outside its competition. “Facebook-reatid =” 24 “> Facebook CEO Mark Zuckerberg has argued why the social media platform is not an illegal monopoly, but is in fact the basis of its competition.
“Watching the auditions, I thought again, this is the beginning of the end of great technology as we know it,” Galloway said.
“And I think we have to move on from whether we think it’s a punishment or they did something wrong,” he added.
“I think America is proud of its antitrust legacy when some company becomes so powerful that it starts to get rid of the oxygen in the sector and the rest of the economy. We are going and contributing oxygen to the economy by breaking down that firm, ”he said.
“By the way, I, as a shareholder in Amazon and Apple, think the value of my shares will increase when they announce that they will split up,” he said. “I believe that in 3-4 years, AWS will become the most valuable company in the world as an independent company.”
The e-commerce giant’s cloud 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 if Biden is elected, there will be some action – they will happen sooner. But we started a long time ago … to saturate the market with oxygen. “
@ines_ferre“data-reatid =” 45 “>Ines covers the US stock market. Follow her on Twitter @ines_ferre
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