Growth and stock prices of technology firms in the US are plummeting from the peak. This raises the question of tighter regulation from officials and the future of the business.
In US business history, only two technology companies have reached trillion dollars, which are Apple and Amazon.
The trillion-dollar milestone achieved by these two huge names is a reminder of how the technology industry has been dominating the US economy. It also marked an impressive decade in which American society and businesses changed. Now Silicon Valley is starting to worry about the technology industry reaching its peak and starting to plummet.
The sports betting also evolved and experienced the impact of the technology on this huge market which was legalized in the USA, not only that it changed completely the betting industry and revolutionized it, these days people are going less and less to the bookie’s shops and now do everything online
The largest technology companies in the US have passed the boom time
This is a good time to stop and acknowledge that the series of tech industry forecasts that have peaked and are about to plummet in the past few years. In 2012, many people warned that Facebook would slide because it was unable to adapt to smartphones, Apple’s growth will be difficult because of economic challenges. That year, many journalists, entrepreneurs, and economists debated the tech bubble. They continued to do so in the years later.
However, the reality is the opposite. Leading technology firms continue to be incredibly successful. Last time, not many businesses were as influential as Apple, Amazon or Google. But now, slowing growth is inevitable, said Crawford del Prete, director of operations at research firm IDC.
Big criticism comes along with the size of the business
It is no coincidence that the increasing dominance of the technology industry is accompanied by concerns about the industry’s weight on the world economy, culture and political system. Although there are no new and major regulations imposed on US technology firms, there are increasing calls for this.
In Europe and the United States, people are calling on the government to take anti-trust actions to prevent technology firms from using their power to penetrate new businesses in dominant positions. Besides, many experts predict that big, money-savvy tech companies will consider acquiring and merging more as businesses mature, leaving them deeper into tense political situations.
US President Donald Trump has voiced skepticism about the market power that Google and Amazon have, but the US government currently has no firm plans for antitrust in the industry.