“Big Four” under fire: Silicon Valley bosses in shortage: Bitcoin ecosystem as a model for competitors from Facebook, Apple, Google & Amazon? | message
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Five-hour homage to the heads of US tech giants
Regulation, dismantling or reorientation?
Bitcoin universe could show an alternative way
Before the congress, the founders and bosses of Facebook, Apple, Amazon and Google were pilloried: Mark Zuckerberg, Tim Cook, Jeff Bezos and Sundar Pichai had to face critical questions from MPs. Democrat Jamie Raskin equated them with “cyber barons” as a modern counterpart, based on the “ruber barons” from the 19th century.
Monopoly of Facebook, Apple, Amazon and Google under fire
For some time now, criticism of the “Big Four” has also been growing louder at high levels. So loud that the bosses of Facebook, Amazon, Google and Apple had to testify to the US Congress last week – at least in virtual form.
Both Democrats and Republicans were anything but sympathetic to the CEOs of the US tech giants. The subcommittee of the US House of Representatives denounced the “monopoly power” of the four companies: For years now, the corporations have dominated the fields of social media, e-commerce and technologies, have secured large market shares and skillfully expand their dominance – and have been also viewed company acquisitions, data misuse and business practices critically.
The fact that the markets are controlled by the “Big Four” and that there is an imbalance in competition must “come to an end,” said David Cicilline, chairman of the Subcommittee on Competition and Business Law, and therefore concluded: “Some should be smashed, others you have to regulate appropriately. ”
It is not yet known which measures should serve to deal with the points of criticism and to create fair competition.
Away from Facebook, Amazon & Co .: Bitcoin universe as an alternative example
Whether advertising, social networks, search engines, trade or app stores – the “Big Four” have established a previously undisputed position on the Internet and have pushed their competitors to the edge in the process. Consumers are faced with a supposedly compressed selection. The practices now denounced should be examined, but alternative concepts can be found in places.
The model could be the crypto universe, whose hour of birth coincides with that of bitcoin. Decentralization is the main characteristic that is to be considered in this context. Just as the Bitcoin can be described as the decentralized counterpart to classic finance, comparable counterparts to the Silicon Valley giants can also be found. These are smaller companies that are characterized by wanting to rule out the mistakes of their large competitors from the outset. More and more small companies are trying to establish themselves in the niches in order to offer consumers alternatives to the large corporations.
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Small competitors as an alternative?
While DuckDuckGo, for example, as a Google competitor, does not store data, there are chat and networking alternatives such as Treema or Steemit for Facebook’s messenger services and social networks. For Amazon’s marketplace and online shop, too, providers can be found who exercise less market dominance. At this point, BTC-ECHO throws up the open source project OpenBazaar – here, for example, there is the possibility of paying for purchases with crypto currencies.
In addition, Apple has built up an all-encompassing iUniverse that now includes not only iPhones and other smart devices, but also services such as streaming and your own credit card. Those who do not want to remain in the fine-meshed ecosystem of the iCompany can fall back on products from smaller, not so networked manufacturers.
The further development in the “Cyber Barons” case should be interesting. What measures are being taken to improve the criticized points? Or is the only alternative to relying on niche companies that are pulled up to not make the same mistakes? Similar to the adaptation of Bitcoin in everyday life to the masses, but equally dependent on acceptance by official regulators, the same applies to market diversity, which is said to have been endangered by the “Big Four”: The customer is still king and consumers determine demand, but the need for regulation by the responsible institutions is becoming more and more important.
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