Big tech platforms have market caps bigger than the GDP of most countries – that’s known.
Big country governments, let’s call them political states, spend big on defence, typically 3-4% of GDP, to protect citizens and national assets – that’s also known. Big tech platforms, let’s call them economic states, also spend big on security. But there’s a big, big difference – and that’s less known.
Economic states spend heavily on protecting their core assets – hi-tech hardware and key software, cloud systems and intellectual properties. But not so much in protecting their users, who have to contend with awful, dangerous content, harassment, fakes and lies.
Precise data on big tech spending for system security isn’t readily available, in part because this happens via not just direct investments, but also acquisitions and partnerships. But there’s little doubt that they do spend big.
A January 2022 report from CB Insights says “big tech companies…are investing heavily in securing their platforms and building cybersecurity products and services.”
The same report also says over the last 6 years, US big tech players have bought, on an average, 3 cybersecurity solution companies every year. And in the same period, they have invested in as many as 50 cybersecurity outfits.
When it comes to user security on tech platforms, though, the picture couldn’t have been more different.
We illustrate with some examples.
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