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The disrupters could get disrupted

Five trends point to the end of the fabulous ride enjoyed by Facebook, Amazon, Netflix and Google.

The US government is asking hard questions about Facebook and Google's roles in selling advertising and allowing 'fake news' to proliferate. This is but one of a number of signs that such companies are attracting greater scrutiny from regulators after a good run in which they enjoyed phenomenal growth, earnings and cash generation.

FOUR mega-cap tech companies are so powerful and high-performing that Wall Street has a collective name for them - the FANG stocks, namely Facebook, Amazon, Netflix and Google.

These four firms alone have turbo-charged US stock market returns in recent years, reaching more than US$1.7...