These companies known as MAAMA are not traveling as a pack. You need to take a look at who the Tech Titans truly are these days to understand that it’s not the products, the financial news, the general media, or the regulators who are dictating who the Tech Titans become.
Most of these giants grew on topline revenue, and have clearly chosen to spend on R&D and product and marketing even as they belt-tighten on hiring. With one exception. The company formerly known as Facebook contracted this quarter. While it’s only 1% down year over year this is a catastrophe for a company that was known as a growth machine.
What’s powering the divergence? They’re all using a different combination of business models to achieve their objectives.
Most critically, four the the leading tech titans have progressed from first generation Founders who are focused on technology and edge to scale stage monetizers, and all except one have established business model designers at the helm of each of these companies. The compose, combine, and cogenerate value in between technology, data, and markets and they move in mysterious ways that may only be understood by understanding the flywheels they are trying to create.
Facebook trails not just because it is the youngest company in the mix, but because they’ve never achieved their many attempts to diversify their revenue and business model mix and are still leading with tech innovation and not value.