The shift in market capitalization from traditional companies to tech companies has significantly impacted the global economy. Tech companies have grown exponentially in value, with the top five companies in 2016 being Apple, Google, Microsoft, Amazon, and Facebook, worth on average $476 billion. This is a stark contrast to 2006, where the top companies were ExxonMobil, General Electric, Microsoft, CitiGroup, BP and Royal Dutch Shell, worth an average of $288 billion each. This shift has led to a concentration of wealth and power in a few tech companies. It has also changed the dynamics of revenue generation, with a small percentage of content creators now earning the majority of revenues in industries like music.
Ever wonder why Silicon Valley seems omnipotent in every arena, not only in technology and business...
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