“Less privacy for customers” voted as the largest threat tech companies pose
Q3 2020 hedge fund letters, conferences and more
Regulators across the country launched five recent investigations into some of the most high-profile tech giants in the world. The Justice Department, which went first in October, says Google sealed its dominance in online search in part using exclusive contracts to lock in its position as the default on browsers and mobile devices.
On Blind, the largest anonymous professional network, we ran a survey asking:
- Do you believe tech companies deserve increased regulatory scrutiny?
- Do you believe tech companies are stifling competition?
- What do you think is the largest threat tech companies are posing to the world?
Professionals Discuss The Threats That Tech Companies Pose
Key Learnings:
- 72% of professionals believe tech companies deserve increased regulatory scrutiny
- 75% of Microsoft professionals believe tech companies deserve increased regulatory scrutiny
- 92% of IBM professionals believe tech companies deserve increased regulatory scrutiny
- 100% of Workday professionals believe tech companies deserve increased regulatory scrutiny
- 69% of professionals believe tech companies are stifling competition
- However, only 43% of Google professionals feel that way
- 93% of SAP professionals believe tech companies are stifling competition
- Most professionals (49%) believe “Less privacy for customers” is the largest threat tech companies are posing to the world
- Stifling company competition is the second largest threat tech companies are posing to the world (19%)
- Followed by “less consumer choice” (13%) and “less innovation for their consumers” (7%)
- 11% of professionals believe “Tech companies pose no threat”
See the raw data here.
These cases share a central idea: Google and Facebook have made the world worse by stifling competition, and less competition has meant less consumer choice, less privacy for Americans, less revenue for online publishers, less innovation for users.
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