Google, Amazon, Facebook and Apple play in a league of their own, dominating their respective core markets in ways that make it seem impossible for any serious competitor to arise anytime soon. Besides, all four share a certain nefariousness as well as the ability to focus tightly on the one thing that counts for them, namely raking in obscene profits regardless of the cost to society. The term “greed capitalism” could have been coined specially for them, and unless forced to they disregard all norms of civilized commerce, fair business practices and even basic human decency.
Of course there are loads of companies that play in the second division, so to speak: Uber (ride sharing), AirBnB (hospitality, Plantir (Big Data) or WeWork (co-working) spring to mind; all of them belong to the rare species of Decacorns – companies that have managed to achive a market capitalization of ten billion dollars or more. It seems doubtful, however, that any of them will one day manage to rise to play with the really big boys. At the end of the day, they are niche players (big niche players, admittedly) in their separate fields, but they hardly effect the everyday lives of billions of people in the way the GAFAs do. Hard to imagine life in the digital age without Google; without Uber, life would go on.
So if we want to look for possible succesors to GAFA we need to turn to the East. Chris Skinner, a journalist and financial consultant, wrote in thefinancier.com: “Forget GAFA, the real threat is FATBAG!” Weiterlesen