The Truth is Powerful

Why The Entire Economy Will Be Run By Digital Giants

logos of Google, Apple, Facebook, Amazon and Microsoft In his new book, Everybody Wants to Rule the World (HarperCollins, July 2021), business analyst Ray Wang describes the future of business. His book predicts that by 2050, the global marketplace will comprise around 50 giant duopolies. In each market, there will be only two dominant giants.

Sector after sector, writes Wang, has already become “a bloodbath” with one-or-two winner-takes-all. “Facebook dominated social media. Amazon took over commerce. Google ruled search. Netflix won the streaming wars. Add the global COVID-19 pandemic in March 2020, and the gaps between winners and losers not only widened, but the pace of change also accelerated.” And this, says Wang, is just the beginning.

In effect, Wang foresees that the same economic and technological forces that created today’s handful of digital giants will work its way throughout the whole global economy. This should be not a surprise to any who understand why digital assets tend inexorably towards winner-take-all outcomes. (If Google offers the best search, why should I use anything else?)

Wang argues that we all need to “understand the digital giants’ DNA, how they operate, why they continue to build exponential barriers to entry, and where their next […]

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