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Dig a little deeper, and those reports also illustrate the sector's substantial and growing systemic importance. Yet, for the tech sector, there is a distinct downside to this development.With increased systemic importance often comes greater scrutiny. When the tech sector began its evolution toward systemic importance, it comprised a collection of hungry startups possessing breakthrough technologies. Over time, the major tech companies' rapid accumulation of market power has led to the rise of oligopolies in some sectors, and monopoly players in a few.As tech firms reach systemic importance, attitudes toward them change markedly.The tech sector itself still seems to underestimate its growing systemic importance.Big Tech can and should play a larger role in helping the entire economy to evolve in an orderly and mutually beneficial manner.
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