COVID-19 didn’t really change anything, according to Scott Galloway. It just accelerated existing trends.
Tech companies like Amazon and Netflix that dominated their industries pre-pandemic are even more popular (and profitable) now. As you may have heard, Jeff Bezos increased his fortune by more than $35 billion in a single month. That’s all well and good for Amazon and its shareholders. But what does it mean for society?
The dominance of big tech companies and their unmonitored growth could cause a number of problems. The companies are likely to become less innovative, and more exploitative. And of course a lack of meaningful competition can be a big issue for consumers.
Galloway says that the American government should tax the “winners” of COVID-19 and provide safety for those who suffer its consequences. What do you think? Check out our Instaread on Galloway’s bestseller Post Corona and join the conversation.