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  • These are the 5 most valuable companies in America.

    這些是美國前五大最有價值的企業

  • Notice anything?

    有發現他們的共通點嗎?

  • They're all tech companies.

    全都是科技公司

  • And their dominance is attracting attention from watchdog groups that say their market

    五巨頭擁有市場優勢地位,引來許多競爭者的監督

  • power is harming competition and the economy.

    撻伐他們危害公平競爭與經濟體系

  • Is it time to breakup big tech?

    這些科技巨擘該受到抵制嗎?

  • To answer that, you have to understand how tech has exploded.

    在回答問題之前,你必須先認識這個科技爆炸的時代

  • For our purposes let's imagine the top 5 tech giants as Pacman, or "Pac-companies."

    為了方便理解,想像一下這五大科技公司為吃豆子的小精靈

  • Except in this game, there are no ghosts around to avoidno Blinky, no Clyde,

    但差別在於,五巨頭不需要躲避敵人,沒有紅色鬼魂或橘色鬼魂 (註:《小精靈》遊戲中有四種顏色的鬼魂)

  • Those ghosts are U.S. regulators.

    這些鬼魂象徵美國的法規

  • For the past decade, the U.S. has been mostly hands off with big tech companies, letting them become even bigger

    在過去數十年,美國政府默許這些科技大廠藉由併吞其他競爭對手

  • by swallowing smaller rivals or entering new markets.

    來擴張勢力、支配更大部分的市場

  • Bloomberg data show that in the last 10 years the big 5 have made close to 500 acquisitions

    彭博的數據顯示,在過去10年間,五巨頭已併吞將近 500 家企業

  • worth about $140 billion.

    價值約 1400 億美元

  • Because consumers like the companies' products, Amazon, Apple, Facebook, and Google

    消費者愛用他們的產品,因此亞馬遜、蘋果、臉書和谷歌

  • have developed huge market shares.

    市場佔有率非常高

  • For example, Amazon receives about 93% of all e-book sales.

    舉例來說,在電子書市場上,亞馬遜的銷售量就佔了 93 %

  • Google pulls in about 78% of internet search ad spending in the U.S.

    在美國,透過谷歌引導的搜尋引擎廣告量就佔了 78 %

  • Similarly, Apple and Facebook dominate in high-end smartphones and social media traffic.

    蘋果公司和臉書也是,幾乎獨佔了高端的智慧型手機市場和社群網站流量

  • But being a monopoly isn't illegal in the U.S... Or most other countries.

    但其實壟斷在美國並不犯法,在其他國家也是一樣

  • Regulators stopped equating big with bad a long time ago.

    在很早之前,壟斷就已不被視為是一件壞事

  • Monopoly cases brought by the U.S. have also dwindled.

    在美國,因為市場壟斷而引起的法律訴訟越來越少見

  • In fact, the last high-profile case was filed in 1998, when the justice department successfully

    最近一次知名的美國微軟案追溯到西元 1998 年,司法部指控微軟公司

  • challenged Microsoft's dominance of computer operating systems.

    涉嫌違反電腦作業系統市場競爭的法律規定 (註:即反托拉斯法,或臺灣稱作公平交易法)

  • And that 20-year dry spell in monopoly cases has led some watchdogs to say that enforcement

    但接下來 20 年對壟斷訴訟案的消極處理,引起許多人不滿

  • in the U.S. has become too timid.

    批評美國政府太過懦弱

  • They say big tech is hurting innovation, jobs and wages,

    他們撻伐這些大公司阻礙創新、影響工作機會和薪資

  • and some even blame the behemoths for a decline in successful startups.

    甚至有人把新創公司成功率降低怪在這些大公司頭上

  • In Europe, America's big tech companies have faced more resistance with governments

    反觀在歐洲國家的政府極力對抗這些

  • more aggressively pursuing them.

    來自美國的大科技企業

  • For example, the E.U. has fined Google for abusing its market dominance and Germany is

    例如,歐盟曾經因為谷歌壟斷網路搜尋市場,而重罰谷歌公司 (註:罰款 28 億歐元,約將近 35 億美元)

  • investigating Facebook for its privacy practices.

    德國則是對臉書的隱私政策進行調查

  • Of course, the big tech players don't think they need to be broken up.

    當然,這些科技龍頭並不希望受到抵制

  • They argue their dominance isn't guaranteed because new competitors can easily

    他們認為目前的壟斷並不是絕對,因為新的競爭者能夠隨時

  • jump in.

    加入戰場

  • As Google likes to point out, competition is justone click away.”

    就像谷歌執行長曾說的:只要點一下滑鼠,戰爭將「一觸即發」(註:click 為「點滑鼠」的動詞)

These are the 5 most valuable companies in America.

這些是美國前五大最有價值的企業

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