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IPFS News Link • Science, Medicine and Technology

What If Technology Belonged to the People?

• https://www.vice.com by Edward Ongweso Jr

Since the pandemic began, Apple, Alphabet, Amazon, Facebook, and Microsoft have seen their values increase by well over $1.7 trillion. Is it because these companies are offering technologies we all need or is it because they enjoy a series of monopolies that ensure greater wealth and control during a period of great uncertainty?

With so many people stuck at home, these internet-first companies were of course well-positioned to provide critical services during a pandemic. But they all got there by leveraging the labor of some of the most vulnerable populations in the world, extracting and selling the data of their customers, getting massive tax breaks, and otherwise taking advantage of huge weaknesses in our economic and political systems. With the economy and society falling apart, these massive companies—already monopolies during "normal" times—are becoming monolithic.


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