Commentary
The remarkable dominance of America’s Magnificent Seven tech giants—with market caps exceeding $1 trillion—has been a sight to behold and a true source of American pride. Both President Donald Trump and Vice President JD Vance have praised the prowess of American businesses in this regard.
The Magnificent Seven companies—Amazon, Apple, Google, Meta, Microsoft, Nvidia, and Tesla—have a combined net worth greater than all the companies in Europe. Their dominance is akin to the Chiefs versus Eagles rivalry.
Despite the significant contributions of these digital-age companies to the US economy, regulators in Washington view them as villains rather than heroes. Calls for stringent regulations and antitrust laws to curb their market power continue to persist.
Similarly, legal actions in Europe seek to restrain these companies, reminiscent of restricting the Beatles and the Rolling Stones from producing hit records to give other bands a chance.
The argument that these tech giants stifle competition and innovation overlooks the fact that the cost of internet services, search engines, cellphones, online shopping, AI, and electric vehicles has decreased. These companies have not hindered smaller startups but have instead fostered a competitive environment.
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The notion to break up Big Tech is misguided, as the tech industry in 2025 consists of numerous smaller, agile “little tech” companies that compete with both each other and the major players, fostering innovation and diverse product offerings.
A thriving tech sector comprises a mix of established corporations and startups, collaborating and competing to drive innovation and meet customer needs.
Thanks to advancements in AI, robotics, and self-driving cars, tech companies of all sizes engage in a dynamic race to innovate and create groundbreaking products. This environment will likely spawn new revolutionary technologies akin to the personal computer and Google search engine.
Among the startups of today are the future giants like Google and Apple. History has shown that new players often disrupt the established leaders, as evidenced by the rise of once-unknown companies like Nvidia and OpenAI.
Large corporations serve as incubators for talent that eventually launches smaller ventures. Former employees of tech giants often go on to establish successful enterprises, driving further innovation and competition in the market.
Despite criticisms of short-term focus, companies like Google and Meta invest heavily in research and development, paving the way for future breakthroughs. The next decade’s transformative achievements are likely to emerge from venture-funded startups, known as unicorns in Silicon Valley.
The concentration of “little tech” in tech hubs like Silicon Valley is attributed to the vibrant venture capital ecosystem that fuels creativity and risk-taking—a unique environment not replicated elsewhere.
However, the anti-success sentiment perpetuated by federal regulators and antitrust authorities threatens to stifle innovation and hinder the emergence of future trillion-dollar companies. To maintain America’s position as a tech leader, a supportive ecosystem that fosters growth and competition is crucial.
The opinions expressed in this article are solely those of the author and do not necessarily reflect the views of The Epoch Times.
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