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GEAB 148

The monthly bulletin of LEAP (European Laboratory of Political Anticipation) - 15 Oct 2020

New-Tech – U-Turn!

Back to reality all round. And if there is one area that has been seized by acute “virtualisation” in the last decade, it is technology companies. They have found themselves at the heart of a collective fantasy of the transmuting human being into bits and digits. Without calling into question the strong trend to digitalise human society, we anticipate big surprises on this front in the coming months.

GAFAM+T – Six companies systemic to a 2021 crash?

To set the scene, let’s remember that these six companies alone represent 50% of the NASDAQ stock![1] We’re talking, of course, about Google/Alphabet, Amazon, Facebook, Apple and Microsoft + TESLA.

Saying that these companies are systemic to an even greater degree than the big banks were in 2008 won’t raise any eyebrows. Therefore, rather than assuming that these so-called innovative companies will reign for centuries to come, it is important to ask ourselves what surprises might be in store for this sector. The consequences of a ‘GAFA accident’ would be dramatic enough to stop us in our tracks… especially in this period of great change. And we are certainly not the only ones to look into this theory.[2]

As everyone knows, the Big Techs benefited hugely from the lockdown period.

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Contents

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