According to TechSpot , the world's dependence on the internet is undeniable. Just 1 minute of 'internet downtime' can cost a country's economy millions of dollars, while large companies lose hundreds of thousands of dollars.
PC Mag recently used the 'Cost of Shutdown' tool from NetBlocks to estimate how a network outage would affect the world economy, including countries and major tech companies.
Major countries in the world
Specifically, the data estimates that a full minute of internet outage would cost the global economy more than $20 million. The United States is the country that suffers the most damage, with $7.6 million, followed by other major countries such as China ($6.8 million), the United Kingdom ($2.2 million), Japan ($1.8 million) and Germany ($1 million).
List of countries that suffer the most damage when losing internet for 1 minute
And if there is a problem for 1 day, those numbers will reach hundreds of millions and billions of dollars. In the situation of losing the internet for 1 year, the damage will reach thousands of billions of dollars, 4,000 billion dollars in the US alone.
The 'big guys' in the technology industry
Looking at tech companies, you might think that the company most affected by the outage would be Alphabet, Google’s parent company. But no, it’s only second on the list, losing $538,120 per minute, far behind Amazon. With its shopping, AWS, and streaming services down, Amazon would lose nearly $1 million per minute. If the internet goes down for a year, the company would lose nearly $514 billion.
Following in turn are familiar faces such as Meta, ByteDance, Netflix, Paypal... These companies will suffer losses from tens of thousands to hundreds of thousands of USD for every minute of internet downtime.
Amazon tops the list for losses per minute of 'downtime'
The numbers PC Mag cited as examples used the companies' revenue in 2022. This was before OpenAI officially launched ChatGPT, so the AI company would likely be in the 'top' if using more recent revenue figures.
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