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Big Tech just got bigger and stronger in 2021. Tech empires also seemed more vulnerable than ever to regulation, competition, a complex public mood, and perhaps even arrogance.

Yes, this is a contradiction. But for Big Tech, this stronger but weaker phenomenon will likely continue into 2022.

Behind this trend is the same question In this newsletter, I continue to ask: American tech superpowers, including Google, Amazon, Apple, Microsoft, and Facebook? invincible in a way that previous generations of corporate titans didn’t?

First, let’s take a look at the ways Big Tech has reached. stratosphere in 2021. Apple, currently the world’s most valuable business, is close to reaching an unimaginable $3 trillion stock market value. That’s about eight Walmarts or more than the entire German stock market is worth.

Amazon is so important to the US job market that the company’s hourly rate has encouraged local businesses to increase their rates, which in turn Paychecks for many Americans who don’t work for Amazon. When Facebook and its other apps briefly shut down this fall, the outage showed just how much. our lives and commerce depend on one company.

This year, American tech forces got involved US drug policies Presidential election in Russia and ethnic violence in Ethiopia. Tesla’s Elon Musk – his company isn’t technically considered Big Tech, but his stock market value and influence make him an honorary member – recently elected Time’s Person of the Year.

This is familiar territory for many of you. Technology is one of the most important forces in the world, and so are the leading lights of technology. The combination of these tech empires of wealth, economic importance, large numbers of users and global influence is perhaps something we’ve never seen before.

But at the same time, the Greater Technology has gotten richer and more important, the more stress is placed on their empire.

The Chinese government was worried enough about the power of the country’s tech superstars said it had crashed some popular digital services. In London, Brussels, Seoul, Washington, Tallahassee and – OK, almost everywhere – regulators and legislators are trying to erect new railings to control what they see as harmful effects of tech companies’ power in our lives.

Many of these activities can be a fuss going nowhere or ultimately be relatively unimportant. But when elected leaders oppose an industry, it’s often a reflection of popular mood. And it’s a good bet that they won’t be sunbathing again anytime soon.

And as Big Tech giants continue to be profitable and grow, there are signs of weakness there too. Jeff Bezos stepped aside Amazon’s CEO this year and several other tech bosses have also resigned. When a company gets bigger, it can be less fun. manage clutter.

Mark Zuckerberg seems worried about Facebook and Facebook’s talent stay involved with the youth. And in the last two years, great ideas have not come to fruition shopping. from Amazon but from Instacart, fast delivery starts like GoPuff and even Walmart. Americans spend more on food than almost anything else, and Big Tech is largely a side show.

Feelings about tech companies and tech personalities are also getting more complex. People often love or trust technology, but sometimes they also i feel lucky about this.

This the latest obsession in the tech industry are cryptocurrency start-ups and related companies that dream of the future of the internet. less institutional control. This sounds, in part, like a crisis of confidence in the fundamentals of technology from inside the machine.

While most of the big Tech companies have adapted to it, empires don’t last forever. crises previous and it got stronger. I don’t know what will happen this time. It’s hard to ignore how entrenched and influential tech empires are. And it’s hard to overlook how besieged they are with doubts and challenges.

Before you go …

• A little Christmas cheer: People (mostly) Get deliveries on time before Christmas, my colleague Niraj Chokshi reports. More informed planning and more spending by retailers and distribution companies has helped to cope with fluctuations in packages. And more people have done their holiday shopping early and in stores, which has reduced stress on delivery networks.

• Drones in disaster areas: The Washington Post looks at the situation pros and cons of small drones It is increasingly used to capture images of natural disasters, fill destroyed communication networks, or search for people in need of help. (Subscription may be required.)

• People care passionately about something on the Internet. For five seconds. Fast-moving internet fads like the sea slums on TikTok create a snowball effect of attention, says Vox writer Rebecca Jennings. This hyperactivity of trends “makes it much more difficult for people to identify what has real value.”

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