Topic > Technology Companies - A New Form of Monopoly - 902

A monopoly is defined as the exclusive ownership or control of the supply or trade of a good or service. Big tech companies like Comcast, Apple, and AT&T have seemingly created a new form of monopoly, a limited supplier monopoly. These companies have interchangeable software at extremely similar prices. These companies work together to prey on other businesses and consumers. Additionally, smaller tech startups sell to these large companies to grow their product or simply to quickly raise capital. Even though some startups are selling out, the future of technology depends on their continued growth. While large corporations are not directly monopolizing right now, recent initiatives suggest that this will happen in the near future. Big tech companies control such a large part of the world economy that consumers are forced to adhere to their policies and regulations. Corporations that control what consumers buy can be compared to Milton Friedman, who stated, “If you put the federal government in charge of the Sahara Desert, in 5 years there would be a sand shortage.” Big tech companies are doing the same with bandwidth. Bandwidth is the speed at which data is transmitted, and major Internet service providers or ISPs hold bandwidth to increase the price. Prices for the amount of bandwidth, or Internet connection speed, have steadily increased over the years as smartphones have become more prominent; however, the amount of available bandwidth has not decreased substantially. What really drives up the price of bandwidth is the willingness of Internet service providers to give bandwidth away. This ideology is similar to that of Ernest Oppenheimer, a former owner of... middle of paper... the growth of startups that continue to cultivate with their own means and the support of people.Works Cited"Monopolies". Dictionary.com Unabridged. Random House, Inc. March 22, 2014. Hastings, Reed, Jr. “Netflix Blog US and Canada: Internet Tolls and the Case for Strong Net Neutrality.” Blog Netflix USA and Canada. Netflix CEO, March 20, 2014. Web. March 22, 2014. Goldschein, Eric. "The incredible story of how De Beers created and lost the most powerful monopoly ever." Company interior. Business Insider, Inc, December 19, 2011. Web. March 23, 2014. Potential BlackBerry (BBRY) suitors had until Monday to come up with plans to buy the struggling smartphone maker. Instead. "BlackBerry abandons buyer search."CNNMoney. Cable News Network, November 4, 2013. Web. March 23, 2014. Pozin, Ilya. “How to Avoid Failure at a Startup.” Forbes. Forbes Magazine, November 28, 2012. Web. March 24. 2014.