August 2020

A world divided into “cans” and “cannots”

In the last few decades, the received wisdom among global elites has been that technology tends to make the world flatter, smaller, more open, and more equal. This now seems increasingly false, or at least simplistic. Countries are vying for dominance in technologies that could give them a strategic advantage: communications, energy, AI, surveillance, agricultural tech, cybersecurity, military tech … and now, amidst a global pandemic, medicine, and manufacturing.

Big Tech’s Domination of Business Reaches New Heights

American tech titans flew high before the coronavirus pandemic, making billions of dollars a year. Now, the upheaval has lifted them to new heights, putting the industry in a position to dominate American business in a way unseen since the days of railroads. A rally in technology stocks elevated the S&P 500 stock index to a record high even as the pandemic crushes the broader economy.