I have wondered if tech can have the same impact as the oil and pharma industry has in our everyday life. I am aware that tech is infused into our lives with the advent of social media, mobile phones, and more so when AI/VR/AR would become mainstream.<p>However, with the recent news about China cutting down on social-media consumption, it occurred to me that tech might not have much influence on our lives like these other industry has (even less than Big Media).<p>How are you guys viewing this?
Big pharma exploits people's fear of death or even being deadly ill.<p>Big Oil exploits our society's need to transport essential goods and to enable commuting to and from work. If you don't work, you don't eat and thus you die.<p>Big Tech - aka social media / advertising - exploits our need to be connect with other people and to be "respected".<p>If you consider Maslow's Pyramid, Big Tech is always going to play a lesser role than the other two.<p>NB it's "little tech" that actually enables the essential flow of information. But when you look at FAANG, they are all about advertising and entertainment. None of them directly provide essential services.