The term became popularized and labeled as "Big Tech" around 2017 in the wake of the investigation into possible Russian interference in the 2016 United States elections, as the roles that these technology companies has played with access to wide amounts of user data or big data and ability to influence their users came under Congressional review. The idea of "big" technology companies had entered the public consciousness around 2013, as some economists saw signs of these companies gaining appreciable dominance without any regulation, and were no longer considered disruptive start-up companies following the early 2000s dot-com bubble. 7.2 Accusations of censorship and election interference.7.1 Accusations of inaction towards misinformation.6.1 Use of externally generated content.
5 Antitrust legislation and investigations."Big Tech" may also refer to historical versions of this concept, with the likes of Microsoft, IBM and AT&T considered to be dominant companies in this industry in the mid to late 20th century. The concept of Big Tech is analogous to the consolidation of market dominance by a few companies in other market sectors such as " Big Oil" and " Big Media". It has been speculated that it may not be possible to live in the digital world day-to-day outside of the ecosystem created by the companies.
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Commentators have questioned the impact of these companies on privacy, market power, free speech, censorship, national security and law enforcement. Concerns over monopolistic practices have led to antitrust investigations from the Department of Justice and Federal Trade Commission in the United States, and the European Commission. īig Tech companies typically offer services to millions of users, and thus can hold sway on user behavior as well as control of user data.
They are additionally considered to be among the most prestigious and selective employers in the world. They have been among the most valuable public companies globally, each having had a maximum market capitalization ranging from around $1 trillion to above $3 trillion. The tech giants are the dominant players in their respective areas of technology, namely: e-commerce, online advertising, consumer electronics, cloud computing, computer software, media streaming, artificial intelligence, smart home, self-driving cars, and social networking. Companies like Tencent and Alibaba Group serve as the equivalents of Big Tech in Asian regions. The Big Four consists of Alphabet, Amazon, Apple and Microsoft, with broader groupings also including Tesla, Meta, Twitter, and Netflix. US Big Tech Companiesīig Tech, also known as the Tech Giants, Big Four or Big Five, is a name given to the four or five largest, most dominant companies in the information technology industry of the United States. The tech giants' logos/symbols, from left to right: Google ( Alphabet), Amazon, Apple, Meta ( Facebook), and Microsoft.
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