Did Big Tech Like Google, Meta and Amazon Get Monetized from the Ukraine War?
The Russian-Ukraine war poses a golden opportunity for big tech companies to get monetized from it
The ongoing Russian-Ukraine war has led to multiple worldwide effects on distinct industries across the world. Multiple big tech companies such as Google, Meta, Amazon, and many more have been struggling each day with the consequences of the current Russian-Ukraine war in 2022. Sir Martin Sorrell, Founder of advertising and communications giant, WPP, has claimed that the big tech companies can reap the benefits of the Russian-Ukraine war efficiently with smart strategies.
Meanwhile, the financial officials at the World Economic Forum at Davos, Switzerland, claimed that the Russian-Ukraine war has created a drastic effect on the big tech companies as well as a major setback to the global economic recovery. There are cost-of-living crises across the world with the high inflation rate, product shortage, and pandemic hits along with the Russian-Ukraine war.
Alphabet, Google’s parent company has claimed that the first quarterly revenue was missed after the gruesome war between Russia and Ukraine. The Ukraine war has also created a drastic effect on YouTube ad sales. It is difficult for big tech companies like Google, Amazon, Meta, and others to recover from dumping marketing campaigns across the world. The reason is that they stopped ad sales in Russia and Ukraine, as well as brand advertisers, pulled back on spending in these two areas.
Ad guru Martin Sorrell has acknowledged the current situation and has suggested how big tech companies can increase their revenues through this war. The piece of advice for these tech companies is to utilize the situation with a different approach— harnessing the defense sector. Defense includes cyber defense by leveraging cutting-edge technologies to protect each other’s citizens. Big tech or Google, Meta, and Amazon are always focused on improving or launching technological products. Thus, they can utilize cloud computing infrastructure for governments and cyber companies to use in cyber warfare— against cybercriminals in digital mode.
There has been a major drop in the market stocks of big tech companies after the Russian-Ukraine war. Martin Sorrell has full faith on these companies to utilize the war for boosting the revenues in the future by working for the defense sector, which is the most important sector that needs full support from the big tech domain. The war is having a big impact on the whole world, but tech companies are investing millions of dollars in this war. He has also mentioned that the Russian-Ukraine war will mark the end of the globalization era because the world is going to become more localized to maintain the price. Big tech companies can shift from globalization to glocalization post-war with cutting-edge technologies and creativity.