Peter Thiel thinks that Google’s search monopoly may be nearing its end. Speaking at the Launch Festival in San Francisco, he mainly spoke about monopolies in the tech world, saying that “on some level these monopolies are a reward for innovation… software is very monopoly prone.”
He went on to talk about Google, adding:
“If the EU goes after Google, this could be a sign that the search monopoly might be about to end.”
Right now, Google is involved in a testy battle with the European Union stemming from complaints that the company “has abused a dominant position in online search.”
According to Thiel, the focus for tech companies must be on doing something different, first, then holding on. Earlier in the interview, he pointed out that in order for companies to be great, “the key is to do what nobody else is doing…you always want to aim for monopoly.”
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.