Bloomberg Businessweek

Silicon Valley’s New Reality Show

On Sept. 12, 2016, there was a momentary realignment in the constellation of global business. For the first time, the five largest public corporations in the world by market capitalization were all technology companies: Apple, Alphabet, Microsoft, Amazon.com, and Facebook. The celestial anomaly lasted only seven weeks, because of the rise in oil prices and natural vicissitudes of the stock market, which eventually propelled ExxonMobil and Berkshire Hathaway past Facebook and Amazon. But it’s easy to conclude that a portal had opened briefly to the future—a future in which Silicon Valley dominates everything.

Like so much of 2016, the moment surprised a lot of onlookers. But while it was a bad year for prognosticators, it was by and large a very good year for high tech. If you put aside exploding Samsung smartphones, the massive

You're reading a preview, sign up to read more.

More from Bloomberg Businessweek

Bloomberg Businessweek3 min read
Making a Bundle in Virtual Real Estate
Last month, Ryan Kunzmann went to a bar in New York to see his 58,000 square feet of property. No, it’s not the world’s biggest bar—his holdings are virtual. Kunzmann was one of about 20 people meeting to chat and compare their little slices of Gene
Bloomberg Businessweek5 min readPolitics
Making Billions Off China’s Worried Parents
The weekend ritual for many American kids includes hanging out with friends, sports, cruising the mall, or honing their online gaming skills in Fortnite. Steven, a serious-looking 9-year-old public school student in Beijing, spent a recent Friday eve
Bloomberg Businessweek11 min read
Who Owns The Weather?
Barry Myers, President Trump’s pick to lead the agency responsible for weather predictions, doesn’t want the government to compete with commercial forecasting companies. Like his own