Are Google and Facebook Bad Companies?
Google, Facebook as well as Twitter have come under attack from the President and the Republican Congress. They sound off that there is a concerted effort within these companies to subvert conservative views. This is especially funny since the President uses Twitter to spout off his mindless musings. Even the European Union gets in it. They have levied large fines on them. I take the European attacks with a large grain of salt. I think it is a case of envy. They have very few world-wide known social network apps/software offerings. The only one that comes to mind is Spotify.
Do Google and the others engage in “unfair” practices, perhaps. Why shouldn’t Google rank sponsored ads higher? It is in their business interest to do so. Anyone can use Bing for search if they choose (no, seriously, really…).
Do Google and Facebook make too much money? This gets to the heart of the matter. Their rapid rise and immense wealth generation is incredible. They “won” because they had a better product. Each faced competition. Each used the technology they developed to improve. The market spoke and chose them.
Should they be regulated? Why? Unless it is shown that they prevented free exchange of ideas, then no they should not be regulated. Just because you don’t like their size does not mean you should regulate them. At some point another company will emerge to offer a product the world wants. It might be next year or in ten years.
I don’t consider these companies as bad. I admire what they have built.
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