Reid Hoffman is the founder of LinkedIn. He has stated that the number of tech giants on today’s market is going to rapidly increase and that this is all going to be fuelled by the US election. Take a look below to find out more.

Joe Biden and the Rise of Tech

Joe Biden has signalled that the administration he is running is going to take a very aggressive approach to the world of big tech. He is going to include a lawsuit against Google as well as ensuring that social media platforms such as Facebook have the means to keep their customers safe. Observers are going to wonder whether or not Biden is going to push to try and break up the tech giants that are out there, altogether. Reid Hoffman has released a word of warning, saying that if major tech companies were broken up, then the US economy would ascend elsewhere. This would hurt the US economy and make it much harder for people to get the service they want. When you look at the online slots industry, you will soon find that there are plenty of big companies who are all focused on tech, but Biden is not focusing on these as such.

Five Big Tech Giants

The tech giants in question will probably fuel the rise of even more companies. Five years from now, it would not be surprising at all to see even more companies rise. In Washington DC, the scrutiny of Amazon, Google, Facebook and Apple included a lawsuit opening against the Google search engine. The lawsuit states that they are illegally ensuring their dominance in the industry of search advertising. The push to try and address the big tech firms that are out right now include companies such as Microsoft and even Netflix. It should be noted that Hoffman is part of the director’s board at Microsoft.

A string of earning reports have all shown that they are thriving in light of recent events. People are becoming more and more reliant on things such as Netflix and internet access, not to mention that the tech giants have also seen their gains in the stock market go up even more as well.

Tech Stocks and the Future

At the end of the day, tech stocks are rising and not much can be done to stop them. Some people are concerned that the companies are going to rise above the law, or not be penalised when they show dominance, such as what Google have done. This isn’t the case when you break down the data, and dominance of a market does come naturally when you have such a big market share. That being said, more needs to be done to try and make sure that people are given the voice they need to speak their opinion and they also need to be heard. That’s why the founder of LinkedIn has tried to support both sides of the story in his time as a working professional.