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The Trillion-Dollar Chameleon

Victor Davis Hanson, National Review

Today, five companies — Amazon, Apple, Facebook, Microsoft, and Alphabet (Google’s parent company) — have a collective worth of more than $3 trillion. Yet such transnational companies remain mostly exempt from the sort of regulations and accountability faced by most other industries. Politicians are understandably afraid of turning a golden goose into a sick hen. Without taxable trillion-dollar revenues from Facebook, Google, and Apple, a dysfunctional, cash-strapped California would likely go broke. The result is that high tech has become is a brilliant chameleon — invisible in plain sight.