No introductions are needed for the four horsemen that take
center stage in this book. As consumers, many of us consider the products and
services that these four companies offer as integral in our daily lives. From
using Google Maps to get to the nearest Wholefoods, to chatting with friends on
WhatsApp using your iPhone.
 |
| The Four by Scott Galloway |
In my line of work, I have worked directly with 3 of the four horsemen (Google, Facebook and Amazon). The first two dominate the digital
advertising landscape while Amazon is doing its best to quickly catch up.
This book attempts to pull the curtain back and reveal some secrets behind the success of these four companies. Mr Galloway takes a deep dive into what
makes these companies succeed and his view on their plans to continue their
global domination.
The four horsemen are destroying
the middle class and creating a new elite
Mr Galloway argues that the companies that have gone out of
business because of the four horsemen have resulted in the destruction of
thousands of jobs which have been replaced by fewer, albeit higher paying jobs.
This creates a new elite. A smaller class of educated and geographically
concentrated group of people who reap the rewards and wealth created by the four
horsemen at the expense of the old middle class.
The four horsemen have
access to cheaper capital
They have access to cheaper capital because of their high
valuations making it easier to take side bets on projects that will further
cement their position.
The cheaper capital also lowers the risk for them, while
more traditional companies are strapped down by more expensive capital and more
traditional industry benchmarks that must be met to satisfy shareholders.
The four horsemen also
have access to the best talent
Everyone wants to work in Google, Facebook, Amazon or Apple.
Pop culture has only added to the myth that only the best come to work at The
Four.
The graphic showing how many people from WPP who have jumped to
these four companies vs how many people who have jumped from them to WPP (the largest
communications company in the world) was an eye opener for me. Hint, it was pretty one-sided.
Final thoughts
The book is a great read and is especially relevant today as
these four companies continue to grow and become entrenched into our daily
lives.
In my mind, there is no doubt about the value and innovation
that these four companies have brought forward. While some jobs may have been
lost, these four companies have created jobs in new industries that would not
have existed before. Think about the thousands of people who develop apps for
the App Store or the thousands who make a living as YouTube/Twitch/Instagram
influencers.
All four companies (and a handful of others) have provided
humans today with many tools that have made everyday life better.
As regular people, we need to be able to find the balance
between the convenience and value these four companies offer versus
compromising our own beliefs and sharing our private information/data.
Everyone can opt-in or opt-out of the products
and services offered by The Four.
Reading this book gives us more information so
we can make our own choice.