The term refers to the significant control and influence that large technology companies have in various aspects of society, such as the economy, politics, and daily life. These companies often hold a monopoly or near-monopoly position in their respective industries.
Related terms
Monopoly: A situation where a single company or group dominates an entire industry without any significant competition.
Antitrust Laws: Regulations designed to prevent unfair business practices, such as monopolies and anti-competitive behavior.
Digital Disruption: The impact caused by technological advancements that significantly alter traditional industries, often led by big tech companies.