Faisal Ghaffar 
Much has been printed about whether or not Big Tech has reached its peak. Meta recently reported first ever sales decline, owing to a drop in internet ads. Amazon, Netflix, and numerous others have reduced their hiring. Many platforms have already seen their share price prices plummet this year, as interest rates rise and growth is slowing.
However, these are short-term patterns that are affected by the world economic cycle. The more significant change is that actual flaws are beginning to emerge in Big Tech’s core business strategy, which relies on globalization as well as the distribution network to achieve scale. Three major legislative and regulatory transitions are attempting to put platforms’ capability to cross boundaries and grab market share in jeopardy. And they do so in aspects that will last longer.
Consider the EU laws, that were confirmed in July and will require the world’s biggest instant messaging platforms — along with Apple’s iMessage, Meta’s WhatsApp as well as Facebook Messenger, &, very probable, Google Chat or Microsoft Teams — to interact with one another. This type of “interoperability” will make it more difficult for such businesses to capture a share of the market through the standard Big Tech power grab, which also involves trying to lure consumers to a given service and afterward trying to lock them in by limiting their ability to transfer their information and data to competitors.
When directory listings, as well as other data, are instantaneously portable, switching from one provider to another has become simple. This may consequence in a more competitive technological landscape over the period, but privacy experts are worried that it will also raise the likelihood of data breaches.
On the social front, the reverse is occurring: it is getting more difficult for so many tech firms to cross borders. Alibaba, a Chinese tech server behemoth, implemented a focus mainly on the Hong Kong stock exchange two weeks ago, in expectation of fresh US economic laws requiring so much regular audits of sensitive information since Beijing is capable of allowing it. Due to the regulatory oversight, approximately 200 Chinese firms may well be blacklisted in the United States. This highlights the bipolar and even tripolar world that is arising in new tech, with the United States, Europe, and China deviating.
While there have been a few talks of the Biden management trying to lift tariffs against China, the American business and political intelligentsia have so little hope that we’ll restore to being a single, currency union.
