Former Facebook executive Chamath Palihapitiya told the CB Insights conference that regulators are going to come down hard on Big Tech in the next 10 years.
He believes regulators will tax companies like Facebook, Google, Apple, and Amazon "to death" and that they will eventually get their way in the end.Former Facebook executive Chamath Palihapitiya believes that governments will break up the world's largest technology companies over the next decade.
"First, they'll get taxed to death, then they'll get trust-busted," he told the Financial Times's Robin Wigglesworth on a video call that was broadcast as part of the CB Insights tech conference. While at Facebook, Palihapitiya made side investments in a start-up that was acquired by Google and a start-up that was acquired by The Walt Disney Company. He also backed Peter Thiel's Palantir, which is now valued at over $20 billion. He left Facebook in 2011 to start his own venture capital fund called Social Capital, which has backed messaging app Slack.into Apple. The first one centers on whether or not its right for Apple's App Store to take a commission on in-app purchases.
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