Big Tech’s domination of business reaches new heights in the pandemic

The tech companies' dominance of the stock market is propelled by their unprecedented reach into our lives, shaping how we work, communicate, shop and relax. That has only deepened during the pandemic, and as people shop more frequently on Amazon, click on a Google or Facebook ad or pay up for an iPhone, the companies receive a greater share of spending in the economy and earn ever larger profits. This is why investors have flocked to those stocks this year at the expense of the scores of companies struggling in the health crisis and are betting that their position will be unassailable for years. "COVID was the perfect positive storm for these guys," said Thomas Philippon, a professor of finance at New York University. The tech companies' dominance of the stock market is propelled by their unprecedented reach into our lives, shaping how we work, communicate, shop and relax. That has only deepened during the pandemic. The companies' deeper encroachment into American lives can be seen in web traffic numbers for Alphabet, Facebook and Amazon, which own the four most visited US sites. The traffic on these sites was immense before the pandemic, but daily visits increased To keep reading about Big Tech’s domination of business reaches new heights in the pandemic, Click on the link. Seoul, Korea
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