After seeing this, I was curious of what was the true meaning behind this Act and after a few searches I found that according to Wikipedia, The Sherman Antitrust Act is a landmark federal statute on United States competition law passed by Congress in 1890. It prohibits certain business activities that federal government regulators deem to be anticompetitive, and requires the federal government to investigate and pursue trusts, companies, and organizations suspected of being in violation.
It was the first federal statute to limit cartels and monopolies, and today still forms the basis for most antitrust litigation by the United States federal government. (Wikipedia 2013). After learning that such Act is in place, I now see why there are not very many true monopolies, meaning that they own 100% of the market and how the government has a say in how companies are ran. In my opinion, I honestly feel that is a very beneficial law to have in the books because it gives an entrepreneur or another business a fair chance at entering a chosen market.
But on the other hand, itd only be smart to enter a market that you honestly feel you have a chance to survive in, or youd only be setting yourself up for failure. Anyhow, McIntyre goes on to provide a list called the New Generation of American Monopolies which is a list of all the biggest companies in the technology industry that control the markets in their respective produce. Not to my surprise of the many big names on this list, in which most reside in the Silicon Valley like Google, Microsoft, Facebook, Intel, Apple and even Paypal.
Most of these are more of an Oligopoly, meaning they share the market, except for one that was of a surprise to me which was Sirius XM satellite radio simply for the fact that this company was the only true monopoly and does have 100% of the market. Maybe it was just because I really never thought about Sirius having competition? But maybe I didnt think of this because they have absolutely zero competition.
After a little more research on wikipedia, I found that back in the early 2000s there was a little competition between two different satellite companies, XM and Sirius, but due to the money that it takes to keep satellites in orbit, the two realized that the only way theyd both survive was to merge, so in 2007 they did (Wikipedia). I truly found this article really interesting because it was broke down into each product,(i. e. search engine, operations system, social media sites, digital video streaming, microchips, tablet computer and even e-readers) and then explained why each of the top companies where so dominant.
Some were there because of the sheer size of their company and others made it just because they made a better produce which made for a higher demand of that produce in which pinched out the competition. To just give a few of the examples, Google controls 90. 1% of the search engine market over Yahoo and Bing, Microsoft controls 89. 7% of the windows operating systems over Mac OS X and Linux, Intel controls 80. 3% of the microchips market over AMD, and Apple iPad controls 73% of the market over Android and Samsung (McIntyre, 2012).
In conclusion, with all the advancements of technologies of today, each of these companies are respectable and are at the top of their game because they are all very efficient at what they do, highly profitable, price setters, great advertisers, and have the power to control the markets.
Works Cited McIntyre, Douglas A. , (22 March 2011).The New Generation of American Monopolies. 24/7 Wallstreet. Retrieved from http://247wallst. com/investing/2011/03/22/the-new-generation-of-american-monopolies/print/ Wikipedia. (2 July 2013). In Wikipedia the free encyclopedia online. Retrieved from http://owl. english. purdue. edu/owl/resource/560/10/.