Samir’s Selection 08/07/2013 (p.m.)

  • “For the past fifteen years, Internet companies like Amazon, Google, and Facebook have been rightly lionized as triumphs of American entrepreneurship. As the Web matures, though, they are gradually coming to be viewed in a different light, as quasi-monopolies that need at least a modicum of oversight. Because of the presence of network effects and other sources of increasing returns to scale, there is a natural tendency for successful online companies to increase market share and, eventually, to dominate a specific market. Google dominates search and, through You Tube, it also dominates online video. Facebook dominates social networking and, through Instagram, it also has a big presence in microblogging. And Amazon dominates online retailing.

    Any monopoly position in the market comes with the capacity for abuse.”

    tags: Amazon JeffBezos WashingtonPost internet monopoly competition market socialmedia Facebook Google influencing lobbying

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