Cover story: keeping big tech at bay

Author: John Crabb | Published: 23 Sep 2019

Silicon Valley’s superpowers are eyeing up the financial markets. IFLR asks readers how regulators should approach them

Big tech has control – a lot of it. A small handful of technology-oriented companies from the west coast of the US have used their expertise and rapid growth models to completely dominate commerce, communication, information, data, and so on: essentially, the composition of daily life in 2019.

Four companies have so much power it is nigh-on impossible for startups – even some established companies – operating in the same field to compete.

As these megalithic players move into the world of finance it is only inevitable that the industry will begin to take heed of what Facebook is planning with Libra, what Apple's intentions are with its new credit card offering, and whether Amazon will succeed in establishing itself as a commercial banking entity. That said, with collaborations between the financial powers of New...