Google and Facebook last year between them controlled more than 58% of total US digital advertising spend. Amazon is on course to capture nearly half of America’s e-commerce market in 2018.
Decades ago US regulators forced the break up of telecommunications giants with positive results. How good it would be to see the same happen to Google, Facebook and Amazon.
According to today’s Financial Times The IMF sees ‘evidence of rising market power and declining competition in the US… This is coupled with signs that the labour share is going down’
Both consumers and workers and citizens will suffer if government doesn’t act.