On the second day of the HowTheLightGetsIn festival, a distinguished panel sought to make sense of the impact of Big Tech on both capitalism and the power of the nation-state. Among the panellists were Kenneth Cukier, the Deputy Executive Editor at The Economist, Anu Bradford, the Henry L. Moses Distinguished Professor of Law and International Organization at Columbia University, and Aaron Bastani, the co-founder of Novara Media. The timely nature of this topic is underscored by the ongoing legal battles, which are arguably the most significant challenges to Big Tech's power and influence in decades. Steering the discussion was Stephanie Hare, a researcher, broadcaster, and the author of 'Technology Is Not Neutral', whose insights added a compelling dimension to the discourse.

What do Big Tech - Apple, Google, Meta, Amazon, and Microsoft - all have in common?

They all have immense reach, with billions of users around the world. Many, if not all, dominate entire markets. Most also benefit immensely from network effects. And all, have thus far, obviated regulatory scrutiny with the ease of companies that have market capitalisations equal to the GDP of many countries, which, most of them do. Perhaps most importantly, however, all rely on collecting, analysing, and monetizing data. An approach that is not only essential to their business models but also their ability to innovate and hence in many ways define the contours of our collective future.