In case you haven’t noticed, the big tech companies continue to grow in power. That growth is allowing them to not only generate massive amounts of wealth for investors but also shape society. When I say big tech, I’m not just referring to the public companies that make up what is known as the FAANG group of stocks that includes Facebook, Apple, Amazon, Netflix, Google, and of which I would also include Microsoft. My definition of big tech also includes privately held companies known as “unicorns”, companies that have rapidly went from zero to $1,000,000,000 valuations such as Nextdoor, Udemy, Instacart, SpaceX, Stripe, and the like.
As someone who works in technology, it’s great to see companies in this space have success. However, that success has not come without controversy. The more we learn about how these companies operate, how they make money, and how they exploit their users, the more we should be concerned about the impact they have on the world around us. It’s a multi-faceted problem that Maëlle Gavet explores in her book Trampled by Unicorns: Big Tech’s Empathy Problem And How To Fix It.
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