Though more different than alike, they do have a lot in common. All are, in some way, progeny of the microprocessor. Some were born in around Silicon Valley, others quite distant. The first generation was born in the US early in the last third of the 20th Century. The second was born near the end of the late 20th — early in the 21st Century. None of them could have been born in an earlier era. Microsoft* 1972, Apple*1976, and Oracle*1977, were instrumental in developing the power of microprocessors either through developments in software, hardware, or both. Amazon*1994, Google*1998, Facebook*2004, and Twitter*2006 were all about utilizing the vast computing power of microprocessor based computers. They grew like weeds. The nation had not seen the likes since Carnegie and Rockefeller of the 19th Century. Now, as then, it didn’t quite know what to do with them. Now, as then, the Nation found itself being jerked about economically, socially, and politically by these new giants. What are to be the standards when all is so new?
Called Technology Companies because they were the children of this Age of Technology; some sold software, some hardware, some both; some provided a service in exchange for the users eyeballs, and personal info, which they then sold to others. Some sold stuff for others until they became so rich they took these others’ business from them, bought others, and did some of everything. One thing they held in common was that they all, excepting Theranos and Twitter, had quickly grown to be very prosperous, and to be very big and powerful. Amazon has enough cash on hand to buy General Motors outright; so does Apple, Microsoft, Google, and Facebook. Another thing held in common; they all started up in an unregulated environment. And another; these Technology Companies were all, with the exception of Theranos, started up by young men, some of whom were very young.
For nigh on fifty years now the US Government hasn’t seemed to know enough about what was going on with this new technology to step up and impose needed regulations. In some cases, those running these companies couldn’t have told you what was going on. It has all been a wild ride. Now, in the early 21stCentury, as in the early 20th, it is clear to most that something must be done. As in 1904, the first step is to break them up. They are so big that no one else can compete. Sound familiar? As with the titans of the Gilded Age, these guys have tremendous influence on national economics, society, and politics and policy. These guys have world-wide influence.
As in the gilded Age: Too big is when a company has its own Representatives and Senators, and writes legislation meant to benefit itself. Too big when, as a result of that legislation, immigrant labor is used to suppress workers wages. In the Gilded Age, Capitalism was next to god; strikers were shot. In Myanmar, Buddhist nationalist beat, raped, and killed Rohingya Muslims because of anti-Muslim hate-speech postings on Facebook. When confronted with this fact, Facebook expressed concern.
As in the Gilded Age, these new Titans of what was now the Technology Age have been hailed as geniuses. Fair to say, some of them are of well above average intelligence. Also fair to say that some of them are not. That some aren’t all that well rounded, or educated. That some are amoral. Wise? We have seen little or no evidence of that.