Showing results by author "Rana Foroohar" in All Categories

An award-winning Financial Times columnist exposes the threat that Big Tech poses to our democracies, our economies and ourselves. Today Google and Facebook receive 90 percent of the world's news ad spending. Amazon takes half of all ecommerce in the US. Google and Apple operating systems run on all but 1 percent of cell phones globally. And 80 percent of corporate wealth is now held by 10 percent of companies - not the GEs and Toyotas of this world but the digital titans. How did we get here? How did the tech industry get to dominate our world so completely?

In looking at the forces that shaped the 2016 presidential election, one thing is clear: Much of the population believes that our economic system is rigged to enrich the privileged elites at the expense of hard-working Americans. This is a belief held equally on both sides of political spectrum, and it seems only to be gaining momentum.

At the dawn of the twenty-first century, Thomas Friedman, in The World Is Flat, declared globalization the new economic order. But the reign of globalization as we’ve known it is over, argues Financial Times columnist and CNN analyst Rana Foroohar, and the rise of local, regional, and homegrown business is now at hand.