In pure financial terms, America's colossal technology companies experienced a knockout year in 2017, posting record profits, huge share price gains and growing market share across the economy.
But as the big tech platforms brace for 2018, their business models that have been so disruptive to everybody else are now under siege from regulators and politicians.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
