Once, the Big Four was a term used to describe the biggest accounting firms. Today, it is widely used to describe the biggest firms, overall. The Big Four are Apple, Amazon, Google, and Facebook (sometimes referred to as the Big Five, together with Microsoft) – the four largest companies in the world in terms of market capitalization (well, Microsoft is also there in the middle) but most importantly, in terms of influence, power and success.
These companies have something in common – it almost impossible to ignore them. They control the most successful apps in our smartphones and the most popular websites on the internet, and essentially, buying most of their competitors and kill any potential competition.
Google and Facebook control the advertising and media industry, Amazon controls the retail and cloud industries, and Apple controls consumer electronics. Together, their market cap is more than 2.5 billion dollar, and it keeps growing…
Is it a problem?
Professor Scott Galloway from NYU University is long known for his thesis that these four have accumulated an exaggerated power and that a real competition cannot be created unless this unparalleled power will be stopped, one way or another. The most interesting aspect of his thesis is his orientation – he is not a red socialist that believes in big government and hates big corporates. As a matter of fact, it’s quite the opposite – he is teaching MBA students, he is an entrepreneur (sold his company to Gartner in 2017) and has a venture capital of his own. However, he feels that the power of these four is disrupting the way the economy works, and the markets are failing to find the right balance.
Prof. Galloway just published his new book – “The Four: The Hidden DNA of Amazon, Apple, Facebook, and Google.” – and in this video, he gave a fascinating presentation and showcased his arguments from the book.