The businesses of the biggest tech companies are like fortresses, flanked by high walls and encircled by moats. Their platforms are cornerstones of digital life that support billions of users. At the same time, their business ecosystems, the networks of partners and tech allies that circle in their orbit, make them hard to unseat. Since the pandemic, the profits and growth of big tech have lifted the entire US sharemarket.

All of this makes the US Department of Justice’s attempt to crack open Google’s core search business a seminal moment for the tech industry. Last week, the US trustbusters followed through on a landmark antitrust court victory against Google in August with a wide-ranging proposal to shake up its business.

Financial Times