“It’s time to go back to the roots and disintegrate Big Tech to ‘oxygenate the market,'” says NYU marketing professor Scott Galloway.
“The market is beginning to realize collectively that when all production is focused on fewer and fewer firms, it creates an unhealthy ecosystem and an unhealthy economy,” Galloway told Yahoo Finance’s The Move.
AAPL) and FacebookFB) touched fresh highs, while the Amazon (AMZN) increased by more than 4% after the explosion quarters, despite the ongoing pandemic. On Friday, shares of Apple (AAPL) and Facebook (FB) hit fresh highs, while Amazon (AMZN) soared more than 4% after the quarters, despite the continuation of the pandemic.
Amazon made a record profit when people shopped at home during the COVID-19 outbreak.
“The first move is fantastic to be an unregulated monopoly in a pandemic,” Galloway said.
T) TwitterTWTR) and Pinterest (PINS), – said Galloway. “Data-reactid =” 25 “>” These companies for the first 15 minutes after the market closed yesterday, announced profits. Added AT&T (T) to Twitter (TWTR) and Pinterest (PINS), Galloway said.
“And yet, according to Mark Zuckerberg, competitors are attacking him from everywhere,” he added.
GOOGL) testified before lawmakers during a 5-hour antitrust hearing. “Data-reactid =” 27 “> Earnings from the fall of the jaw appeared only a day after the CEOs of Amazon, Apple, Facebook and Alphabet (GOOGL) testified before lawmakers during a 5-hour antitrust hearing.
created a case of why the social media platform is not an illegal monopolyand in fact for its competition. Facebook CEO Mark Zuckerberg has questioned why the social media platform is not an illegal monopoly, but is in fact behind its competition.
“After watching the hearing, I thought again that this was the beginning of the end of great technology, as we know it,” Galloway said.
“And I think we need to move from the constructive idea that this is some kind of punishment, or they did something wrong,” he added.
“I think America has a proud legacy of antitrust when any company becomes so powerful that it starts cutting off oxygen to the sector and the rest of the economy. We are entering and oxidizing the economy, breaking up this firm, “he said.
“By the way, as a shareholder of Amazon and Apple, I think the value of my shares rises as soon as they announce that they are falling apart,” he said. “I think AWS will be the most valuable company in the world as an independent company in 3-4 years.”
Amazon Web Services’ giant e-commerce cloud business grew 29% year-over-year.
“I think this is the beginning of the end, even if Trump is re-elected. I think that if Biden is elected, there will be some action – it will go faster. But we have already passed due to … market oxygenation.”
@ines_ferre“data-reactid =” 49 “>Ines covers the US stock market. Follow her on Twitter at @ines_ferre
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