The Corner

Economy & Business

One of These Things Is Not Like the Others

In his interesting post on the “corporate-woke complex,” John Loftus writes of “our largest multinational corporations, such as Apple, Coca-Cola, and Nike.” I thought that was an interesting grouping of the largest, one that highlights the economic changes of the past couple of decades: By market capitalization, Apple is more than five times the size of Coca-Cola and Nike combined.

There is something more to companies such as Apple, Amazon, and Alphabet, along with Chinese rivals such as Tencent and Alibaba, that isn’t quite captured by the term “multinational corporation.” Maybe we don’t have a word yet for what precisely it is they are.

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