Chamath’s claim was that the combined market capitalization of the major U.S. platforms (Apple, Microsoft, Alphabet/Google, Amazon, Meta, etc.) would reach a peak within 1–2 years of December 2021 (so by the end of 2023) and not be exceeded thereafter.

Public data on the so‑called “Magnificent Seven” (Apple, Microsoft, Alphabet, Amazon, Meta, Nvidia, Tesla—a superset that includes all of Chamath’s cited platforms) shows the opposite:

• As of November 17, 2023, the Magnificent Seven’s combined market cap was about $11.73 trillion.(mundurek.com) Other analyses put their 2023 peak at around $17.1 trillion in late 2023.(mindmatters.ai) This is roughly the high point within Chamath’s 1–2 year window.
• By July 2024, their combined market cap was already about $15.4 trillion, reflecting further gains after 2023.(investor.wedbush.com)
• By December 2024, Benzinga reports the group at $18.23 trillion, explicitly noting that each of the seven was near or at its own all‑time‑high valuation.(benzinga.com)
• By October 9, 2025, multiple sources put the Magnificent Seven’s combined market cap at a record ~$20.9 trillion, which then climbed to about $22.2 trillion later in 2025—far above any 2023 level.(voronoiapp.com)

Individually, the core platforms Chamath named also hit new record valuations well after 2023:

• Apple reached and then exceeded a $4 trillion market cap for the first time in October 2025.(macrumors.com)
• Microsoft crossed $4 trillion in July 2025 after strong cloud/AI earnings.(cnbc.com)
• Alphabet (Google) is now nearing $4 trillion as well, with its stock at all‑time highs in late 2025.(reuters.com)

On a relative basis, big tech also did not top out and then fade. The Magnificent Seven’s share of the S&P 500’s market cap rose from about 27% at end‑2023 to roughly 37% by Q3 2025, meaning their weight and dominance in the index increased after Chamath’s supposed peak window.(linkedin.com)

Because both the absolute combined market cap and the index share of the large U.S. tech platforms clearly moved to much higher highs in 2024–2025 than in 2023, the forecast that Big Tech’s market cap would peak within a year or two of December 2021 and never surpass that level is incorrect.