If you are a citizen of the 21st century, you have probably heard of FAANG, the world’s 5 biggest companies that are running our modern-day tech industry, or as folks call it – Big Tech. FAANG is an abbreviation for Facebook (now rebranded as Meta), Apple, Amazon, Netflix, and Google.

However, a recent report this week seems to indicate that FAANG is no longer relevant in today’s market and that today, Big Tech is now spearheaded by 6 new leading tech giants that make up MATANA, and they are Microsoft, Amazon, Tesla, Apple, Nvidia, and Alphabet (the parent company of Google).

In a recent video interview with Yahoo Finance Live, Constellation Research Principal Analyst & Founder Ray Wang states that the FAANG abbreviation should be reassessed as it no longer reflects the current market trends. 

In the interview, Wang debates that MATANA is an upgrade from FAANG as the new abbreviation added Microsoft, Tesla, and Nvidia into the Big Tech lineup whilst dropping Facebook and Netflix from the list altogether. 

The main reason behind the current market trend is because of both Facebook and Netflix are facing fierce competition from their industry rivals, whilst facing backlash from their audiences as well as regulations from governing bodies worldwide.

On the topic of Meta, Yahoo Finance quotes Wang, “Facebook has got to do something besides ads.” “Once again, they’re taking a beating for it. So, is it going to be the glasses? Is it going to be the metaverse? We’re not there yet and that’s really kind of what the challenge is.”

As for Netflix, Wang comments, “The reason they’re out is because, how many more subscribers? How many more subscriptions are you going to handle?” “Product placement should be where they are, plus the ability to do IP licensing. Look at how Disney makes its money.”

Thus, it seems as if the days of Meta and Netflix as market leaders in the industry are numbered, and unless both companies provide new and innovative products in the markets fast, they may end up the likes of Nokia, Blackberry, and other once globally dominant technology brands.

Coming to Microsoft and Nvidia, the analyst had several insights to share about them. To quote Wang via Yahoo Finance:

“Microsoft has more than just business-to-business and consumer – they’ve been able to manage both,” he said. “They’re positioned well for the metaverse. They’re positioned well for the cloud and, of course, they’ve got their gaming business.”

“Nvidia is a lot more than just the chips that we look at and more than the data center or gaming,” Wang said. “They’re sitting at the edge between AI, the metaverse, the future of computing, and the way they do their partnerships, they’re set up in a way that’s going to be dominant for quite some time.”

As for Tesla, people had already heard the story of Elon Musk many times, and that he is now the world’s wealthiest man on Earth. And despite the current negative press on Tesla cars, the company sales are still growing and projected to grow further as the world switches away from petrol and gas vehicles to the more environmentally friendly electrical vehicle alternative.

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(Source)

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Earlier this month, we reported that several states in the United States are planning to file new antitrust lawsuits against Google and Facebook. That turned out to be true when last week Facebook was sued by the US federal regulators and more than 45 state prosecutors.

Now, around ten states of the U.S., led by Texas attorney general, has filed a lawsuit against Google, accusing the company of working with Facebook in an unlawful manner that violated antitrust law.

It accuses the tech giant of abusing its monopoly over the digital advertising market, allowing its own exchange to win ad auctions even when others bid higher and overcharging publishers for ads.

With such practice, the company aimed to boost its already-dominant online advertising business, claims the lawsuit. It adds that Google unlawfully acquired, attempted to acquire, or maintained a monopoly in several steps of the online ad market including both buying and selling sides.

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Further, it alleges that the search engine giant also engaged in unlawful tying arrangements between its ad products, forcing publishers to use another Google tool if they chose to operate on its ad exchange.

The lawsuit is seeking compensation for damages and also asks for “structural relief” which usually means divesting some assets. For those who are unaware, Google controls one-third of the global online advertising industry.

This latest lawsuit is the second major from regulators against Google and the fourth overall in the United States. The company is also expected to face another lawsuit this week from another coalition of bipartisan state AGs which also targets its search services.

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Big Tech companies have been facing a lot of scrutinies for some time now and demand for regulating such firms is increasing. Now, Britain’s competition watchdog has proposed that there should be tailored rules to regulate tech giants.

The companies affected by this include the likes of Google and Facebook. The Competition and Markets Authority (CMA) said that a legally binding code of conduct backed up by penalties could extend to fines of up to 10 percent of turnover.

It also proposed that the enhanced merger rules should be set up in legislation. It also reveals that the code will be enforced by a new Digital Markets Unit that will comprise of lawyers, data scientists, and other experts.

While the new unit will be set up in April, the legislation might not be in place until 2022. It will be part of a wider regulatory framework that will include new rules for harmful online content and data protection.

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Further, the Department for Digital, Culture, Media, and Sport (DCMS) said that some of the world’s biggest tech companies may have to be more transparent about the services they provide and how they use consumers’ data.

This development from the Competition and Markets Authority (CMA) comes just a week before the European Union is set to outline its own rules for governing the digital services and markets.

Apart from regulatory changes, big tech companies are also facing antitrust scrutiny around the world. While countries like the USA, China, and India have a few ongoing antitrust investigations against Google or its subsidiaries, the state and federal authorities in the U.S. are expected to file antitrust lawsuits against Facebook in the coming days.

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