Sep 30, 2017

The rising power of America's tech giants

Apple CEO Tim Cook kicks off the event for a new product announcement. Photo: Marcio Jose Sanchez / AP

"NYU marketing professor Scott Galloway ... has racked up millions of [YouTube] views talking about brands, big tech, and who's disrupting whom. ... Barron's [Jack Hough] recently sat down with Galloway to discuss the rising power of America's tech giants, which he writes about in a new book, The Four: The Hidden DNA of Amazon, Apple, Facebook, and Google":

  • What's next for Amazon: "Going right after Netflix ... There is talk of their acquiring some television networks to get scale and content quickly and fill in some niches, because those assets have been beaten down from a valuation standpoint and Amazon has the ability to monetize them."
  • On Facebook: "It is bigger than communism, capitalism, the Kardashians. It is the most successful thing in the history of mankind if you look at the intensity of the relationship across Facebook and Facebook-owned properties."
  • On Facebook and the 2016 election: "This could be, if they handle it poorly, the moment Facebook goes into structural decline."
  • "I believe Google is a modern man's god. Our species throughout time has needed a superbeing to fill in gaps around huge questions we are unable to answer."
  • "Apple draws on the second most powerful instinct behind survival — procreation. ... Apple is the new signal of wealth, of creativity, and that you're part of the innovation class."

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