In February, Shervin Pishevar went on a 50 tweet-long rant on twitter. The topics Pishevar covered were wide ranging but mostly dealt with the economy. The contents of the rant were mostly negative and predicted all kinds of disastrous outcomes for the current financial situation. While many of these predictions may or may not end up coming true, he did make some interesting observations about the current state of affairs in the economic world.
One of his most chilling observations dealt with what he saw as 5 enormous monopolies that have taken control. In Shervin Pishevar’s mind, these monopolies are mostly technological, and their reach and power is frightening. So, what are these 5 giant companies that now control much of the tech world underneath them?
Shervin Pishevar identifies the 5 technological monopolies as Alphabet, Amazon, Apple, Facebook and Microsoft. In Pishevar’s view, these tech giants have turned into monopolies that now destroy any startups that they wish. To Pishevar, these companies have the “power of a nation-state” and will use this power to destroy any startups that they see as a challenge to their power. He also believes that these tech monopolies are not afraid to use their power both covertly and overtly.
What perhaps is one of the more frightening points that Shervin Pishevar brings up in his tweets is that these tech companies have access to data that no nation does. This is a chilling reminder of just how much potential power these tech companies actually wield. And as Pishevar tweeted, these monopolies are not afraid to wield their power even in overt ways. This is a frightening combination and one that may even need to be dealt with by the US government.
Pishevar did give the example in his tweets of when Ma Bell was broken up. This allowed other companies to rise up and in the end was better for consumers. He also notes that the tech giants now have far more power than Ma Bell ever did. Only time will tell if these modern tech monopolies will be broken up, just like Ma Bell was.