ANALYSIS: Will History or Regulators Come for Tech Giants First?

An excellent way to lose money for most of the 21st century has been to bet against FAANG stocks, as Facebook, Amazon, Apple, Netflix, and Google’s parent, Alphabet, are known. What critics collectively refer to derisively as “Big Tech,” the holders of FAANG equities call a robust portfolio of the world’s most valuable firms. Through the past 20 years, no matter how awful the occurrences—a charismatic CEO dying prematurely, record-breaking settlements with regulators, or a new flu strain that turns the global economy upside down—the growth, power, and riches of the largest technology companies have ...