“As the economy contracts and many companies struggle to survive, the biggest tech companies are amassing wealth and influence in ways unseen in decades” Read the NYT piece here.
“The traffic on these sites was immense before the pandemic, but daily visits increased sharply in March, when stay-at-home orders began, with Facebook up 15 percent and YouTube 10 percent… but if the Big Five keep reporting huge profits, they should still make up an outsize share of the overall market. In the 12 months through the end of June, they earned nearly $500 million a day in net income combined...”
NOTE: I will be launching a new speaking topic on this, next week — it’s been a longtime fav topic of mine.
