Michael Spencer: The Western Internet Is Monopolistic

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Michael Spencer: The Western Internet Is Monopolistic
editor_iot
28/04/2021 – 13:05

…The majority of digital innovation happening in 2021 is actually occurring in China. YouTube and Netflix are just what you get in a climate of Western monopolies eating up our attention in a manipulated ecosystem of the old internet — the dumb digital advertising based internet of Silicon Valley, the internet of greed and deceit. Don’t even get me started on Facebook’s legacy. Since real innovation always disrupts aging monopolies in the end, digital ads at the center of America’s internet will be its downfall.

The problem is of course that sprawling ecosystems of greed like Google and Facebook have done more harm than good to society. They have disrupted media to the point where it’s hard to trust what you see or find online. …

In a world of western monopolies, they are losing what it means to be innovative and they are stunting the ecosystems of technology, making startups in their respective industries no longer exist. This is allowing China to drive real consumer and apps innovation in digital experiences and ultimately to be the future of the global internet. It’s not by chance that Chinese IPOs (who are startups) are going to dominate even our stock market.”

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