Why the World Hates Silicon Valley – Article Review
Article Review代写 With the rise of digital technology, the 21st century has become a hub for technological development. While many people…
The article written by Kevin Maney is quite an interesting read.
With the rise of digital technology, the 21st century has become a hub for technological development. While many people experience immense success and happiness with the technological advancement, there are many people who are facing the repercussions of these technological advancements. The article talks about how Silicon Valley has become the hub of technological development and how it is actually attracting investors and good talent from all over the world. Additionally, they are able to collect revenue from all over the world, which is immensely hurting economies and derailing many country’s path to development, simply because of their own success.
From what the writer states, many of the company’s which are considered to be a part of the 20 most valuable tech companies of the world are based in Silicon Valley. And these companies are making massive bucks which are only staying in Silicon Valley and not really helping the rest of the world or their economies. In fact, what is it is doing is concentrating development in one particular area, and then affecting the rest of the world by introducing technology that replace the need for labor which is resulting in increased unemployment and creating problems for the middle class and lower sectors. Billionaires are not finding any faults at all, since they use the money they own to get what they want.
One such example that the article provides is of Mark Zuckerberg, who paid $30 million in order to purchase the houses surrounding his estate and them pummeling them into the ground, just so “nobody can see through his window.” With examples like these rising up, it can be seen that the money is not being utilized for the benefit of the society, rather for the benefit of one or two particular individuals whose interests are vested in the business.
Since most of the top tech companies are based in Silicon Valley. Article Review代写
It is actually resulting in an influx of immense capital from investors from all over the world along with the users of the services that these companies. For example, Alphabet, which is Google’s parent company controls 12 percent of all money spent globally on media advertising, according to Ad week (Maney, 3). This shows that most of the money that is beings spent by companies all over the world is going to that one particular company who is thought to be the technology giant. When viewed in another light, the tech industry is basically flourishing immensely, whereas, the rest of the industries are being affected and even controlled by the tech industry.
The reason I say this is because the evidence, as presented in the article, clearly indicates that the rest of the industries are highly dependent on technology. If they use obsolete technology, then the company itself will suffer, however, if they use advanced technology which leaves little to no room for labor, then they must let go of their workforce, which in turn creates economic issues, such as high unemployment rates, and thus leaving people with less purchasing power. While it is true that many of these technological advancements are now providing services and products for free which previously used to be costly, however, at the same time, this is creating a problem for the middle class, especially those people who are unable to get jobs because of these technological changes.
The author moves on to explain that America is basically split into two segments now, which he calls the Atoms America and the Bits America.
All those industries apart from the tech industry are part of Atoms America which consists of the retailers, wholesalers, manufacturers, restaurants, food service providers and much more. According to the author, the companies in these industries are in trouble because of the tech industry and the number of jobs being created are far less, which has significantly affected the job prospects of the masses. One of the best examples of this is the introduction of bitcoins and cryptocurrency. This will change the way finance graduates and chartered accountants work, and even make the need for CAs or finance graduates irrelevant, which may even lead to the decline of this profession.
When I look at the current scenario of the market, I have to agree with what the writer says, yet at the same time, I will also say that it is not because of the tech companies that these industries are not performing well, but because of the human resource. At the end of the day, manufactured products are something that will not be replaced by technology too soon, it will take some time, so the reason why these companies are not performing well is primarily because of the economy and that too at a global scale.
The author has presented interesting comparisons and example throughout the articles, and I have to agree with most of what he has to say. Article Review代写
Silicon Valley is receiving most of the funding, and all the money that goes there, stays there, it is not dispersed into the economy, which is why only a select few are reaping the benefits of this prosperity. In 2015, Silicon Valley received the highest funding received, which was three times than the second place that received funding which was New York. Some years ago, people used to invest in China and India, but these days, people are more prone to invest in Silicon Valley because the results are high. However, as mentioned previously only a few stand to gain from it, whereas, it will affect the rest of the world in a very adverse manner.
People who work for these companies are likely to remain successful for a long time, but anybody else working in other industries will likely face intense repercussions and competitions from other unemployed people. The author then states that the companies should learn to give back to the society in some form, and help other countries as well, because if human requirements is replaced by technology then there is a strong likelihood that the masses will start retaliating and a huge ruckus will follow.
Conclusion Article Review代写
In order to avoid this, steps need to be taken by the government to ascertain that the damage inflicted is not irreparable. Yes, technological advancement is going to continue for the next few decades and it will change the lives of people all over the world. Yet, at the same time, we need to ensure that this change is positive instead of negative. The government needs to play an active role in this, and they should make policies which are targeted towards the interests of the people, instead of a select few organizations which are benefiting at the expense of the others. The article is quite sound in its opinion, however, I do feel that these things will take time, and the speculations may even change with time if other players come into play. Only time will tell how everything will unfold. What needs to be safeguarded, are the interests of the people, otherwise, life as we know it will cease to exist.
References Article Review代写
Kevin Maney, Why the World Hates Silicon Valley, Newsweek, Accessed 25-10-18 from;
https://www.newsweek.com/2016/06/17/silicon-valley-takeover-468182.html
