The robber barons of the 21st century are the platform owners. They have combined the power of network effects with a 20th century corporate capitalist, winner-takes-all approach. Amazon is choking the book publishing industry, Google is dominating advertising, and telecommunications companies are using their control of the pipes to directly compete with service providers. Now Uber is going after the taxi and car rental industries, getting to be larger than established rental car brands, with none of the overhead. All of these companies provide initially good services to customers. But over time their monopolistic tendencies kill competition and the entire ecosystem of innovation.
I wrote the above paragraph is 2014, not mentioning Twitter, which until recently was where journalists, institutions, and governments shared what was happening and fed the algorithms that showed what was trending. In some ways Twitter was the pulse of the world and helped drive the Arab Spring, Black Lives Matter, and many other causes. It was the main source of visitors to this blog when I deleted Google Analytics several years ago, as a way to ignore vanity metrics.
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