As I meet with many startups in the technology space we always talk about their struggles to really make it in a space that’s currently overtaken by the BIG 5. How will smaller companies make it and how do we look at how we make space for them? If we want to make entrepreneurship something that is reachable for anyone that desires to enter the technology space we have to begin to have conversations about how the bigger companies are becoming a monopoly in the tech space.
The big 5 Amazon, Google, Apple, Microsoft and Facebook should be the ones who are starting those conversations. We cannot tell the next generation that entrepreneurship is reachable if in some sectors they may be interested isn’t an option.
For example, Mobile Apps
IF you want to get into the mobile App space because we know people are getting more mobile friendly, and having a mobile app for your business will definitely boost it up. But when considering this space, you will also have to remember that most mobile Apps are tied in some way to one or more of the BIG 5. This can cause many small startups to be in a position in which they have to split their profit with a larger company with each transaction. Over the long-term this will not be financially doable for sustainability.
As I continued to research and look for who may be already talking about this issue I found a great article. It is worth taking time out to read. Written by Farhad Manjoo ~ Frightful Five