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MIT Technology Review

Even huge scandals can’t dent Big Tech’s big bucks

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Did someone mention a techlash? What damn techlash? Silicon Valley is doing A-OK, according to its financials.

The supposed techlash: Facebook is mired in a data scandal. YouTube is plagued by offensive content. Uber’s robo-cars may be dangerous. Google’s in EU courts over anti-competition. Amazon is blamed for job erosion. All is not well!

The news: Facebook posted record profits last quarter. YouTube grew. Google is selling more ads. Amazon doubled profits year-on-year. Microsoft is doing great.

Plus: Even Intel, which suffered a huge security scare, saw profits rise. All is well!

Why it matters: Lawmakers are pushing to rein in tech giants with regulation, while the media deluges us with stories about how the firms betray trust. But users seem undeterred by the issues of privacy and security on which the techlash is based.