Small businesses within the digital sector are spread across the USA. However, a significant number of promising small businesses concentrate in major technology hubs, either initially or through relocation. This phenomenon can be attributed to the influential role played by localized markets for financing and acquisition, which is, in turn, driven by the dominant market positions held by major digital platforms. Our research demonstrates a clear pattern of localized acquisition markets, particularly in sectors frequently targeted by the seven largest American digital giants—Amazon, Alphabet (Google), Apple, Microsoft, Meta (Facebook), Oracle, and Adobe, collectively known as ‘Big Tech’. This localization trend has become more pronounced between 2000 and 2020. Our analysis indicates that the gravitational pull of these acquisition markets poses challenges to local initiatives aimed at fostering digital businesses. These efforts would be more successful if measures were taken to limit the market influence of digital platforms.

中文翻译：

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大型科技公司云集：收购市场如何集中数字行业


数字领域的小型企业遍布美国各地。然而，大量有前途的小企业最初或通过搬迁集中在主要技术中心。这种现象可归因于本地化融资和收购市场发挥的影响力，而这反过来又是由主要数字平台所占据的主导市场地位驱动的。我们的研究表明，本地化收购市场存在明显的模式，特别是在美国七大数字巨头——亚马逊、Alphabet （Google）、苹果、Microsoft、Meta （Facebook）、甲骨文和 Adobe（统称为“大型科技公司”）经常瞄准的行业。这种本地化趋势在 2000 年至 2020 年期间变得更加明显。我们的分析表明，这些收购市场的引力对旨在培育数字业务的本地举措构成了挑战。如果采取措施限制数字平台的市场影响力，这些努力将更加成功。