When you compare the way the biggest five technology firms behave and the way regulators publicly talk about their businesses there is a fundamental disconnect.
Microsoft, Apple, Alphabet, Meta and Amazon are making heavy investments – in increasingly overlaying sectors- that are on steeped in an understanding that they need to innovate to survive. They know their history (see: Fairchild, IBM, Kodak, Blockbuster, etc).
Fascinating piece in this weeks’ The Economist on how they are hiring, acquiring, taking minority positions and otherwise making big bets into fintech, crypto, cars, metaverse, healthcare, space and robotics and they all invest so much in AI it is not considered frontier tech anymore.