It is obvious that one butterfly flapping its wings somewhere on the planet is not going to change the weather. Such a thing is the proverbial gnat fart in a hurricane. That is how I feel when it comes to boycotting the big tech companies like Facebook, Amazon and Google. What is my tiny effort going to do against their immense wealth and power?
But their immense wealth and power is the problem. Amazon is choking out America’s bookstores, publishers and retailers. Yes, they make lower prices for consumers but thinkers like writer, attorney and professor at Columbia Law School Tim Wu and Rhode Island Congressman David Cicilline, Chairman of the Subcommittee on Antitrust, Commercial and Administrative Law, know that there is more to the dangers of monopoly power than price. This old investment professional is worried that there are only about half as many public small-cap companies as there were twenty years ago. I am worried that Google and Facebook are almost completely choking out journalism and the democratically critical Fourth Estate. Economy like ecology like democracy requires diversity to thrive and survive. We are starting to recognize that all this free and cheap internet service like Google, Facebook and Amazon offer is actually very expensive and diminishing. Continue reading