[Some] worry that Google could prove to be the ultimate digital monopoly. They do not think that its reason for being is primarily online search or the advertising business; they see it as being in the business of mining any and all data it can accumulate for new profit streams. The data hunger such a goal demands is the main reason, they argue, why Google is entering markets as diverse as self-driving cars, smart homes, robotics and health care. “Google is trying to leverage the advantage it has in one area into many others,” says Nathan Newman, a lawyer and technology activist. The idea is that Google could use its assets—its data, its unparalleled ability to exploit those data, its brilliant employees and knack for managing them—to take control of other industries.
For such a data-centric conglomerate to get ever more dominant seems against the flow of history and intuitively unlikely. But intuitive views of the direction of internet competition have been wrong before, as the existence of giants like Google, Amazon and Facebook bears witness. And should it show signs of coming to pass, the current antitrust skirmishes will give way to an epic battle on the scale of the one against Standard Oil. “If we will not endure a king as a political power,” said John Sherman, the senator who gave his name to America’s original antitrust law, “we should not endure a king over the production, transportation and sale of any of the necessaries of life.” Even one that makes things very, very easy.
Excerpt from Internet monopolies: Everybody wants to rule the world, Economist, Nov. 29, 2014. at 19