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Regional Head, Grab | Commercial Leader and Business Builder | Marketing and Commerce | Board Member and Advisor | Bain, Meta, WPP

What exactly is a monopoly (in tech)? Following the latest antitrust rulings out of the United States, while I am no legal and monopoly expert it has got me pondering: 1. Where exactly are the category boundaries for ‘search’? GenAI assistants like ChatGPT, MetaAI, , Gemini, Microsoft Co-Pilot; Open AI’s SearchGPT; voice assistants like Siri and Alexa; Amazon as a search engine for commerce; users discovering things on social media all exist/are happening today by which people search/find/discover information and things that potentially threaten ‘legacy search’ moving forward a. For example on quick research: ChatGPT has grown to ~200M MAU globally since just November 2022; Siri has ~500M MAU back in 2022; and of course we know the large social media MAUs/DAUs…. 2. (Sample size one - me - user behaviour) My own behaviour is fragmenting based on the basic principles of availability/convenience, product superiority, relevance: a. Availability/convenience: (My lazy self) is beginning to default to MetaAI for ‘search’, because it’s there - it’s on my WhatsApp, among my most frequently used apps b. Product superiority: my Chrome browser (for some reason) sporadically defaults to Yahoo(!) as the default search engine. Yet I consciously go back into my settings to switch back to Google - because it’s better c. Relevance: discovering things and products in my Instagram Stories, learning new news on LinkedIn feeds 3. Where does ‘smart strategic moves’ end and ‘monopolistic behaviour’ start? Moving from product to platform to ecosystems is a common strategy…. What do you think? Would love to be educated/enlightened :)

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Justin Halim

Regional Head, Grab | Commercial Leader and Business Builder | Marketing and Commerce | Board Member and Advisor | Bain, Meta, WPP

4mo
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John Richardson

Senior Client Partner (LCS) @ Reddit | ex-Facebook

4mo

As a Monopoly fan I'm disappointed with the board layout! In seriousness when evaluating 'monopolistic behavior,' the timing of strategic acquisitions is crucial. Take Facebook's acquisition of Instagram as an example—while Instagram had potential, it wasn't the powerhouse it is today. Would Instagram have achieved its current scale without Facebook's resources and infrastructure? In hindsight, this acquisition was a masterstroke, positioning Meta to dominate digital media spending and solidifying its influence in the industry but at the time was it considered monopolistic? I'm not sure. I think the same will apply for this latest round of anti-trust conversations however I guess we are far more aware now of the what the outcomes of these acquisitions looks like.

Stewart Pearson

Scot, Dad, Statistical Modeler, Marxist Economist, Global Marketer

4mo

Justin Halim, this is important. I want to understand why your talented generation is asking: why the fuss about big tech? As an informed, technologically savvy citizen of the world you can move easily from one product to another. But that is not a choice. Big tech companies are de facto monopolies acting together as a cartel, extracting rents and accruing profits. Big Tech needs to be broken up. 1.    Big Tech, through acquisitions and acquihires, suppresses innovation. Instagram was disrupting Facebook and offering choice until acquired. Now they form one ecosystem. 2.    Big Tech platforms suppress innovation in the wider economy, throttling the growth of direct-to-consumer innovators, sucking up to 40% of the margin of any new idea. 3.    Big Tech’s AI narrative follows their Metaverse narrative in promoting valuations dependent on insane computing investment and creating a two-tier economy. As an individual, you can only move between a small number of Big Tech products, and they will continue to extract value from you. At Bain, your clients will not be able to compete, and you will spend your career helping them navigate the platforms and stay competitive in a second tier of an economy.

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