Web Content Manager
We all have a favorite browser, word processor and emailing provider. Typically, the major technology service providers appear in businesses worldwide and set the standard of how business is done through those platforms.
For example, some businesses may use the Microsoft Suite of programs such as Word, Excel and Azure, but depending on what their employees need, other companies may gravitate to the G Suite. UNCG, for example, is a big fan of the G Suite because it provides students with the ability to have a free word processor. For students and educational institutions, the G Suite provides far more benefits than Microsoft suite.
Limited options for clients often creates a monopoly. According to businessdictionary.com, monopolies occur “when a single firm controls manufacturing methods necessary to produce a certain product, or has exclusive rights over the technology used to manufacture it.” And so, the system of dividing technological services generates a term called technology monopoly.
Technological monopolies differ from that of business monopolies, businessdictionary.com explains, “in that the exclusivity derives from the production process itself.”
Monopolies of a product, then, often extend beyond the popularity of a product or company. Consumers are beginning to care less about the diversity of products, but rather the innovative, creative content produced by their favorite platforms. When Amazon dominates online shopping, Apple monopolized phones and other firms control the manufacturing methods needed to produce a certain service.
This doesn’t only apply to physical products or platforms. A new standard of technology monopolies have extended into the world of social media. In Facebook’s acquisition of Instagram in 2012 for 1 Billion, Facebook began its quest in taking over the social media platform Industry.
In 2013, Facebook attempted to purchase Snapchat, however, the purchase was unsuccessful. When Facebook “imitates” Instagram or vice versa, critics often share their disdain on Twitter; however critics fail to understand that these tech giants aren’t direct competitors, they’re partners taking over the social media industry together.
Tech companies purchase smaller startups all the time. It’s one of the goals of startups, to get acquired by a larger company in hopes of the idea expanding. It’s beneficial for tech companies who have excessive capital because they eliminate any potential for competitors to tread into their tech territory.
The purchasing of smaller companies extends their reach as well. Google paid DocVerse 25 million because they offered an additional service for Google customers. Tech giants buy “add on features” to expand their product and consumer reach. This also enables them to capitalize on the brilliant brains behind these ideas.
In some cases, the startup companies get a shorter end of the stick when these deals are made. It may make the first four or five people in their company wealthy enough to be set for life, however, other employees are either left to find other jobs or join those companies as well. This in turn adds to the concept of technology monopolies.
As such, it’s important to be aware of these industries and not be so quick to judge the difference in features and overall experience you have with an application.