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In the digital world, the laws of physics can be suspended on a progra妹妹er’s whim. Equally, that world’s corporate architects have seemed able to defy economic gravity. Since 2005 the digital share of American gdp has risen by a third, to 10%. America’s tech oligopoly—Meta, Alphabet, Amazon, Microsoft and Apple (maama, if you will)—has outpaced even that breakneck growth.
在数字世界中，物理定律可以因步伐员的突发奇想而被弃捐。一样，这个世界的企业老板彷佛可以或许漠视经济纪律。自2005年以来，数字在美国天下经济出产总值中所占的份额上升了三分之一，到达10%。美国的科技寡头——Meta、Alphabet、亚马逊、微软和苹果(缩写为MAAMA，若是你愿意
如许称号的话)——乃至已跨越了这一高速增加。
Collectively, maama’s revenues and profits have swelled by nearly 20% a year on average over the past decade, while America eked out nominal annual gdp growth of less than 4%. Covid-19 may have cramped physical lives, but it enriched digital ones—thereby also enriching big tech as never before.
总的来讲，在曩昔的十年里，MAAMA的收入和利润均匀每一年增加近20%，而美国极力保持的名义出产总值年增加率却只有不到4%。新冠病毒可能限定了人们的物资糊口，但它丰硕了数字糊口，从而也以史无前例的方法让大型科技公司富饶。
This year gravity has asserted itself once more. The tech-heavy nasdaq index is down by a quarter since January, half as much again as America’s broader stockmarket. Profitless not-so-big tech has been dragged down by anaemic revenue growth and high interest rates, which make the far-off earnings of firms like Snap look less valuable today.
本年，引力再次显示出其威力。以科技股为主的纳斯达克指数自一月份以来下跌了四分之一，跌幅是美国总体股市跌幅的一半。收入增加乏力和利率高拖累了利润低的中小型科技公司，这让Snap等公司遥远的收益在今天看来不那末值钱。
More surprising, despite generating piles of cash in the here and now, the giants are also feeling the tug of reality. On July 26th Alphabet reported its slowest quarterly sales growth since the bleak early months of the pandemic. Its share price rallied, though not enough to offset recent falls and only because expectations were even worse. A day later Meta said its sales fell year on year, for the first time ever.
更使人诧异的是，虽然这些巨擘在此时此地得到了大量现金，但它们也感觉到了实际的拉力。7月26日，Alphabet颁布了自疫情最初几个月暗澹的贩卖增加以来最慢的季度贩卖增加。它的股价反弹，固然不足以抵消近来的下跌，并且这只是由于市场预期更糟。一天后，Meta暗示其销量初次同比降低。
One limit is geography, often forgotten in a world of seamless global supply chains and largely borderless cyberspace. In so far as the tech giants peddle physical bits and bobs rather than digital bytes, they are sharing in the pain of supply disruptions. Another limit has to do with talent. Tech firms are not used to scrabbling around for the best progra妹妹ers. However, having dislodged banks and consultancies as graduates’ dream employers, big tech is finding it hard to recruit.
地舆身分是一个限定，虽然在一个全世界供给链无缝跟尾、收集空间根基无界的世界里，地舆身分经常被遗忘。只要科技巨擘们兜销零琐细碎的什物，而不是数字字节，他们就会经受供给间断的痛楚。另外一个限定与人材相干。科技公司不习气四周寻觅最佳的步伐员。但是，科技公司在代替了银行和咨询公司，成为结业生的抱负雇主以后，大型科技公司发明很难招到人。
本文节选自：The Economist（经济学人）
公布时候：2022.08.09
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辞汇堆集
1.oligopoly
/??l??ɡ?p?l?/
n. 寡头卖方垄断
2.cramp
/kr?mp/
n. 痛性痉挛，抽筋
v. 束厄局促，限定; 束厄局促(举动或表达); 抽筋，痉挛; 用铁夹钳固定; 束厄局促，限
定
3. rally
/?r?l?/
v. 招集，调集; 公然支撑(或否决); 规复，从新振作; (代价)回升，升值
n. 会议，大会; 赛车，汽车拉力赛; (网球等角逐中的)相持，拉锯;提高; 规复康健，病愈; (尤指股价)止跌回升
4. peddle
/?p?d?l/
v. 挨户贩卖，巡返梢售; 销售(不法福寿膏，偷盗的赃物); 鼓吹，分布(思惟或动静); 忙于杂事
5. dislodge
/d?s?l?d?/
vt.逐出，驱赶；使……挪动；使劲挪动
◆
词组搭配
1.eke out 极力保持；补充…的不足
◆
写作句总结
This year gravity has asserted itself once more.
布局: This year … has asserted itself once more.
本年…再次显示了它的威力
例句: This year digital economy has asserted itself once more.
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