What U.S. Internet Giants Were Up to in 2022

1. Microsoft doubles down on cloud + home entertainment (gaming content + streaming)

2. Amazon invests in cloud + proximity e-commerce (like JD.com + Meituan)

3. Apple invests in hard tech (firmly pursuing integrated software, hardware, and chip ecosystems) + home entertainment (streaming content)

4. Google leverages advertising cash flow to fund cloud and its more eccentric new tech ventures

5. Facebook has gone on the back burner, continuing its wild experiments in the metaverse while letting its existing business coast

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It matters that you can actually execute the right strategy. The first four have seen their stock prices keep rising; the fifth is already slipping out of the top tier—it’s a lot like Baidu.