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Economist Podcasts
Too big tech: is Alphabet approaching a growth ceiling?
Aug 4, 2023
Join Jan Piotrowski, The Economist's business editor, as he dissects Alphabet's growth challenges, exploring how market maturation and competition may limit its stratospheric returns. Sophie Pedder, the Paris bureau chief, reveals a surprising twist: despite social unrest, France’s economy is thriving, particularly in the luxury sector. Together, they navigate the intersections of innovation, economic resilience, and strategic investments, providing a deep dive into the future of tech and Europe’s unexpected vitality.
26:55
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Quick takeaways
- Tech giants like Alphabet face challenges in sustaining their growth due to the maturation of core businesses like digital advertising and the slowing overall growth rate of the industry, but there is potential for sustained high growth through computing and artificial intelligence disrupting various industries in the future.
- Despite the negative perception of strikes and protests, France has shown surprising vitality and success with strong economic growth, impressive GDP growth, more companies in the global top 100, and advancements in the tech sector, indicating a change in attitude towards business and state interventionism.
Deep dives
Tech Giants' Growth Challenges
The Big Five tech giants - Alphabet, Amazon, Apple, Meta, and Microsoft - have enjoyed exceptional growth in the history of capitalism. However, sustaining this growth in the long term poses challenges. With core businesses like digital advertising becoming more mature, the cannibalization of non-digital advertising is more difficult. Additionally, the overall growth rate of the digital advertising industry is slowing down. While these tech giants are investing in AI tools and exploring new markets, moonshot projects have resulted in significant losses. The major opportunity for sustaining high growth lies in computing and artificial intelligence potentially disrupting various industries in the future.
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