2/01/2020

Do you know who’s really worried about Big Tech? America’s lagging economic rivals like Germany

"Perhaps the only people more terrified of Big Tech (AppleMicrosoftAlphabetAmazonFacebook) than American anti-tech activists are America’s economic competitors. Take Germany, for instance. It’s the economic engine of Europe. And for some US politicians, such as Sen. Elizabeth Warren, it’s an example of capitalism done right. Germany makes stuff! It has a trade surplus!

But many German business and political leaders don’t see things that way. Not at all. But how could they, really? As a great new piece in the Financial Times notes, not only is Apple alone worth more than 20 times German industrial giant Siemens, but “at $1.35tn the iPhone maker is worth more than the entire Dax index of Germany’s 30 leading companies.” That disparity, FT reporters Patrick McGee and Guy Chazin continue, “is a striking example of how Europe’s largest economy risks being left behind by the 21st century tech boom.”"