Sinister, controlling corporations which track our every movement. That may be a popular image of the huge internet giants. Yet the reality is completely different – and far more interesting. What is actually happening is that the tech giants have started blowing money on an epic scale. From challenging the car industry, to virtual reality glasses and watches that double up as computers, or TV series that don’t even have a script, the tech barons have embarked on a colossal spending spree from which the returns are likely to be meagre.