A big problem has been taking place in the United States. Angel investor and entrepreneur, Shervin Pishevar, took to Twitter in order to point it out. There are five monopolies that hold a significant amount of control. The government is allowing them to exist, too.
First, it’s important to identify the monopolies. According to Shervin Pishevar, we need to watch out for Amazon, Alphabet, Microsoft, Apple, and Facebook. If Alphabet doesn’t sound familiar, it’s the parent company for Google.
These monopolies are dangerous for a number of reasons. They have access to too much data, and they are not in competition with anyone. Facebook is almost the only marketing option for businesses in today’s day and age. Google is the only search engine that truly matters. Consumers reach for Amazon to find anything and everything.
Shervin Pishevar points out that these monopolies are more dangerous than Ma Bell, a monopoly that existed in the 20th century regarding telephone service. Once it broke up, it ended up being what was best for consumers. Pishevar urges the same thing to happen with all of the current-day monopolies.
If the monopolies continue to wield their power, they can damage the American dream. Right now, they swoop in and buy any startup that even threatens to compete with them. This only makes the monopolies stronger and takes the choice away from consumers.
Shervin Pishevar has identified the problem. Now, it’s up to consumers and businesses to take the power away from these five monopolies.