Working in Tech Companies: BIG FIVE — FAANG
If you’re tech-savvy, there’s a likelihood that you’ll be interested in working in a tech company. As you should know, digitalization is becoming a worldwide trend, and the use of digital capabilities such as remote schooling, e-commerce, or working from home has become essential. It is also essential to ensure a country’s growth and to keep the economy steady. According to Harvard Business Review, the level of digital evolution helped explain at least 20% of a country’s economic resilience — or as cushioning against the pandemic’s economic impact. Even though there's still no guarantee that the digital evolution can fully bounce back the economy as "the cure," many young generations favor these tech sectors and see huge opportunities in thriving digitalization.
As we grow up, we tend to look at an older person like a mother or father figure that could eventually help us to thrive anywhere. The same goes for tech companies, and people are likely to look up to the Tech Giants. The Tech Giants, also known as the Big Five, refers to the acronym "FAANG" that consists of the largest and most dominant five American technology companies: Facebook, Amazon, Apple, Netflix, and Alphabet, a.k.a. Google. Let's just admit that without their products, we may not be able to adapt to this digital world. They are the benchmarks, the role models of digital evolution. The Five FAANG stocks are also among the largest companies in the world, with a combined market capitalization of nearly $5.6 trillion as of 2020.
These Tech Giants often break down into more specific sub-groupings with other referred acronyms such as The Four (GAFA), GAFAM or FAAMG, and BATX.
The Four (GAFA)
It consists of Alphabet (Google), Amazon, Facebook, and Apple, and are commonly known as the "Big Four" or as the "Four Horsemen.” These four Tech Giants are being grouped on the basis that they’ve driven significant societal changes by their dominance and role in online activities and consumer revolution.
GAFAM
GAFAM or FAAMG consists of Alphabet (Google), Amazon, Facebook, Apple, and Microsoft. These companies are grouped based on their market capitalization, leading to the most valuable public corporations in the world. They appear to control the online space by concentrating on market power, financial power, patent rights, and copyright within capitalism.
BATX
BATX refers to the largest internet companies in China, namely Baidu, Alibaba, Tencent, and Xiaomi. BATX is among the first tech companies that started during the Chinese tech revolution and became widely used by Chinese netizens. Many companies later seek to challenge these biggest tech giants.
The Emerging Market
In corresponding to the digital evolution momentum, Indonesia is also a notable member of the “Break Out Economies” zone. The characteristic of this zone is where the economies with limited existing digital infrastructure but are rapidly digitalizing. The market is currently emerging in Indonesia, attracts the Tech Giants to invest in the archipelago's unicorns — especially for the unicorn startups like Gojek and Tokopedia. If you are still new to the word “unicorn,” it is called for a private company with a valuation of over $1 billion. Both public and private market investors are the ones that can supply the value. As of March 2021, there are more than 600 unicorns around the world. Variants include a decacorn, valued at over $10 billion, and a hectocorn, valued at over $100 billion. So, what other unicorn startups are rising in Indonesia?
Thus, joining the trend and thriving digitalization can be exciting and may even help foster digital growth and economic resilience in your country. To serve the nation through the digital area is quite remarkable, right? Nevertheless, there are other factors that you need to be aware of in regards to working in these sectors, such as the fast-paced environment or startup culture. So, learn as much from tech professionals if you can, and stay tuned to read more upcoming blogs about other stirring careers. Follow our Instagram as well! @baikgp @ayureadypodcast
If you’re based in Indonesia and currently seeking jobs at the Tech Giants, here are some of the career websites that might be helpful. Goodluck Techmates! 🤝