Amazon, Google and Facebook now drive the economy

Posted in: Internet Use/New Technologies at 13/05/2017 18:32

Asked a few weeks ago what kept him up at night one of Australia's leading investment bankers replied three companies, Amazon, Google, and Facebook.

They have a market cap of $US1.5 trillion and a workforce that everyday was heading to the office with the aim of making life tough for a range of other businesses.

They are becoming so powerful, like a cartel, that already some are calling for them to be broken up, while others are comparing their impact on the global economy to what oil did 100 years ago.

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