With the Internet playing a central role in determining how humans live and work, a few big technology companies have gathered remarkable clout. Big Tech firms, also known as GAFA (Amazon, Apple, Google, Facebook), are the largest and most dominant companies in the information technology industry of the United States.
Many have speculated it may not be possible to live outside of the digital world ecosystem created by these companies. Now, these big tech companies are setting their sights on the Global South, particularly the Indian subcontinent, for the untapped potential it holds.
However, there are many concerns over these Big tech firms’ monopolistic practices like slow regulation, unfair competition, privacy, etc. Therefore, given the centrality of digital technologies in the future, a comprehensive regulatory framework must be needed.
- Due to strong network effects, it is not possible to ban or curtail these services. Even if other options are available (such as Signal and Telegram for messaging), the network effects bind customers to their often used platform (WhatsApp), even if it is not their favorite.
- The major players have harnessed technologies that permit synchronicity between devices and people in a manner that is often superficially described as “brand loyalty.”
- Big tech firms have pre-loaded certain software with the OS. Due to this, many times, there was no option available to users to use other alternatives.