Big Tech backlash

How Big Tech's rise fuels income inequality

Illustration: Lazaro Gamio/Axios

The explosion of technology in every facet of life is a big reason that the rich are getting richer, and the big are getting bigger.

Why it matters: The result could be more income inequality, and the creation of vast amounts of wealth, but without corresponding broad prosperity. This, in turn, causes political and social instability.

Amazon strikes back as criticism of its power mounts

Illustration of Jeff Bezos wielding an Amazon logos as a sword and shield
Illustration: Sarah Grillo/Axios

Amazon is mounting a vigorous defense against the charge that it stifles competition, with founder Jeff Bezos pushing back on critics in his annual shareholder letter and the company modifying allegedly anti-competitive practices in recent months.

The big picture: The top antitrust regulator in the European Union has said her probe of Amazon is “advancing,” while lawmakers, including some presidential candidates, hammer the company in the United States.