Face to face and toe to toe with Facebook

Facebook employees have now joined many others in tech multinationals who hold shares. Ross McEvoy sizes up the outlook for the sector.

19th May, 2012
Mark Zuckerberg (middle) applauds after remotely ringing the opening bell for trading at the Nasdaq MarketSite from the Facebook campus in Menlo Park, California. Photo: Bloomberg

At a technology conference last year, Google executive chairman Eric Schmidt said that four companies were dominating the web and consumer technology. This "gang of four" included Amazon, Apple, Facebook and Google. He said the world has "never had companies growing that fast at that scale".

So why exactly are these companies experiencing such strong growth? One of the key reasons, in our opinion, is that the sector is experiencing structural growth through technical breakthroughs...

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