Source: WSJ: US Business
Amazon Leads Tech’s Takeover of America
Why does a phone maker get into banking transactions? Why does a social network build a virtual-reality headset? Why does an online retailer buy a grocery chain?
Amazon.com Inc.’s just-announced $13.7 billion bid to acquire Whole Foods Market Inc. is just the most extreme example of a larger, more consequential phenomenon: America’s biggest tech companies are spreading their tentacles, pushing into complementary businesses in a play to sustain growth as they saturate the market for their existing goods. Led by…