Originally published at: https://boingboing.net/2018/09/10/too-big-to-fail-3.html
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They should be terrified, because if you look at what we did to the banks…
Wait. What exactly did we do the banks? We gave them a trillion dollars when times were tough, and last I checked they were generating record profits and are already undoing the inconvenient, trivial regulations we have put in place.
This seems like a Br’er Rabbit moment for tech.
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I think 1980s greed-cultism is to blame, but not so much in the direct sense that these companies wouldn’t have been allowed to grow so fast in, say, the Eisenhower era.
The computer era erupted so quickly, and from a segment of the population to which society was paying so little attention, that the businesses involved became huge before anyone really appreciated it was happening. Governments wouldn’t have known what to regulate even if they’d wanted to. But you can imagine that if people like Zuckerberg and Kalanick hadn’t grown up in the amoral “money==good” era of financial capitalism, they might have regulated themselves a bit more. They would at least have understood the malevolent choices they were making.
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Weird.
It’s almost like when a company becomes large enough, it ceases to represent its customers or even its staff, and gains some sort of “citizens united” not-so-soul of its own like some sort of money sucking abomination that only cares about feeding its own coffers…
Whodathunk?
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One can hope… naaah.
The tipping point is the IPO.
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“Replace ‘Tech’ With ‘Banks,’ and We’ve Seen a Big Comeuppance Before”
Odd. I have somehow missed that.
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