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I highly doubt that this will ever succeed due to the S&P 500 and similar stock indexes. Over the past year (looking at September 6 2019 comparing that to today) there has been 15% growth in the S&P 500, which is insane considering the global pandemic and economic shutdowns. This means it is on track to double every 5 years. For a bit of context, if you were given 1,000 dollars on your 18th birthday and instead of buying a cruddy used car you invested it and made 15% interest every year, you're have over $700,000 dollars by the time you hit 65 and can retire on it. This 15% is including the massive dip that happened as the world came to a halt, without it who knows what insane growth there would have been reported. Now with that out of the way and established, this was literally all due to big tech. All the profit is from monopolies. Apple specifically experienced over 100% growth over the last year, taking into account its weight[1] of 7% in the S&P 500 that means if my math is correct that roughly half of the growth of the S&P 500 was entirely apple. When you calculate out the weights of AAPL (Apple), MSFT (Microsoft), AMZN (Amazon), FB (Facebook), GOOGL (Alphabet stock 1), and GOOG (Alphabet stock 2) you have 24% of the total S&P 500 index. Their total change in value over the past year averaged based on their weight in the S&P 500 shows that they had a growth of 69%, when multiplied by .24 you get a bit over 15%. Making the S&P 6 most of the S&P 500s profit. By this math, which may be incorrect, it appears the remaining S&P 494 unsurprisingly is slightly down about 1% over the last year, pretty good considering the pandemic and all but the people demand stonk. The % of S&P 500 profits attributable to each company (google stocks combined) according to my excel sheet:
Apple - 48%,
Amazon - 26%,
Microsoft - 20%,
Facebook - 7%, and
Alphabet - 5% With this in perspective, it isn't that surprising that lawmakers will never bust these companies. The DOW is slightly more resilient to big tech (only a quarter of their total profits were microsoft and apple, they didn't have the other 3 big tech companies) and there are of course other stock indexes. However, politicians love to point to the stock market as proof of their economic successes and the S&P 500 is one of the common ones. If big tech is broken up, these companies will obviously make less profit once they're no longer a monopoly and with them the stonks go away. It also really isn't a surprise why Buck is focusing on "conservative allegations that some platforms have tried to stifle conservative voices". Of those companies, only 2 could really be considered as having social media platforms. Both of which are the small fries when it comes to weighted profit on the stock market. Sorry for going so long winded, but this article sparked over an hour of poking around and I wanted to share. tl;dr, big tech monopolies cause most stonking and politicians love that too much [1] - Apparent weightings for S&P 500 https://www.investopedia.com/top-10-s-and-p-500-stocks-by-in... |
Monopoly is the ultimate goal of every for profit company and if they achieve it through fair market competition then there is nothing illegal to worry about.
As far as I know every Big Tech company achieved dominant market position through fair market competition.
Facebook could've purchased Instagram and shut it down but it didn't. Apple could've purchased Android Inc. and shut it down but it didn't.
Your post explaining economy and finance is very good btw.