Big Tech’s Growing Power Draws Parallels to the East India Company

The British East India Company serves as a cautionary tale of how private entities can capture government institutions. During the 19th century, approximately 40% of British members of Parliament were shareholders, while one in 20 held a seat on the company's board. Dalrymple notes that contemporary tech firms are using similar strategies, with independent expenditures from crypto and AI-aligned Super PACs surpassing $180 million during the 2026 midterms alone.

While the East India Company maintained a private army of 200,000 soldiers, modern firms are integrating into the military-industrial complex through different channels. In June 2025, the U.S. Army commissioned high-ranking executives from Palantir, Meta, and OpenAI as lieutenant colonels. This integration grants tech leaders direct federal authority, a move Dalrymple argues positions them in a unique, influential category of power that earlier corporate titans lacked.

The historical precedent for dismantling such entities exists, as evidenced by the British government’s decision to nationalize the East India Company’s possessions following the 1857 Indian Rebellion. Yet, the current political climate remains paralyzed. Critics argue that while the mechanisms to curb corporate dominance are available, officials lack the necessary nerve to employ them.

This trend of corporate self-interest is playing out locally in San Francisco, where the AI boom has failed to yield tangible community benefits. Travel editor Silas Valentino points out that despite hosting industry leaders like OpenAI and Anthropic, the city continues to struggle with an affordable housing crisis. Investments from these firms have been minimal, often favoring internal training initiatives over genuine civic infrastructure, leaving local leaders facing mounting pressure to demand accountability from the companies reshaping their city.