When you talk about a tech giant, you are referring to the world’s biggest technology companies that have a colossal global footprint and huge influence on society. These are companies that were once start ups in dorm rooms or garages, but have become a force to be reckoned with by bringing forth innovative and groundbreaking technology that disrupts markets and throws the old order out of the window.
The term ‘tech giant’ is also used to describe big-name American tech firms like Apple, Amazon, Google, Facebook, and Microsoft. But the list can also extend to include big Chinese tech companies such as Baidu, Alibaba, and Tencent, collectively known as BATX.
Tech giants are able to achieve such an immense presence due to their massive market cap, extensive user and follower base, and innovative products. These firms have built their empire by concentrating on growth and scale at all costs and by using “network effects” to ensure that an extensive network of users has no other choice but to use their platforms.
This has led to multiple anti-trust lawsuits against these tech giants for paying out smaller companies and creating monopolies that limit the number of choices available to consumers. Additionally, it is not uncommon for these firms to acquire different types of agencies and businesses and turn them into subsidiary brands. For example, Microsoft acquired aQuantive in 2007 and later bought Skype in 2011. It is important to note that not all companies want to work with tech giants. Tech start ups tend to offer more flexibility and autonomy to employees, while tech giants usually have a set path of progression.