Quote of the day by Palantir co-founder Peter Thiel: 'Anyone that has a monopoly will pretend that they're in incredible competition' — exposing how tech titans bend the market in their favour
Plenty of massive technology companies have come under fire in the last few years for antitrust violations
In his book 'Zero to One', Palantir and PayPal co-founder Peter Thiel expressed his thoughts on how monopolies in the technology industry often try to disguise their overwhelming control over specific market segments. Thiel, who has decades of experience in technology and business, including his role in creating PayPal and early investment in Facebook, suggested that these powerful companies should conceal their dominance instead of acknowledging it.
He argued that by doing so, they could bypass the legal, regulatory, and general backlash that typically accompanies such a level of market power. The strategy outlined by Thiel has been observed in recent years, particularly in the actions of some of the world's biggest tech companies. Despite their claims of competition in various sectors, these companies have frequently been exposed by US and EU regulators for violating competition and antitrust laws.
Notable cases include Alphabet (Google), Apple, Meta (Facebook), Microsoft, and Amazon, with the European Commission imposing a record-breaking fine of €4.13 billion on Google in 2018 for forcing smartphone manufacturers to pre-install Google Search and Chrome on Android devices.
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