'We can't simply sit back and assume this is normal or necessary or inevitable,' says the former U.S. Labor Secretary.
“The real power with regard to the entertainment industry is in Apple, Amazon, Alphabet, Microsoft and Meta,” Reich explains. “These giant technology firms are moving into the entertainment space at a very rapid clip.
The firms I just mentioned have a total capitalization of over $8 trillion. To put that in context, $8 trillion is more than the entire national products of every country in the world, except the United States and China. These are gigantic leviathans. That’s where the power is.”
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