Facebook buys, copies or kills competitors, US antitrust panel finds
The US House judiciary subcommittee on antitrust has found that Facebook enjoys monopoly in social network and has maintained its position by acquiring, copying or killing competition. In its report, the panel highlighted an exchange in which Facebook boss Mark Zuckerberg told Instagram co-founder Kevin Systrom that turning down a partnership his company ’would have consequences for Instagram.’
Dealing with Facebook can't happen soon enough. I personally shut my account with it down after what was revealed after the last election, the data Facebook sold on us all to that company Cambridge Analytica is unforgivable.
Oops! Can anyone say, "Antitrust lawsuit"? Now, let's go for Twitter and Google and end their reign of censorship.
...And so does Microsoft, Amazon, Apple, and many other massive companies. There should be better protections in place for small/medium business instead - e.g. right to do business without predatory pricing from large company. Currently, if Corp giant sees a small business as a threat they’ll buy it or force it to close at a loss. (Rockefeller was well known for this in the oil baron years) Big companies hate Trump tax law because it helps shield small business from unfair, unbalanced tax ratio, which has long benefited big Corp.
Facebook, Google, Twitter, GM, Ford, Cisco, Oracle. You can literally "fill in the blank" since global corporations have control over our government now.
The problem is called "vertical integration" and it's a new way to run a monopoly. Companies buy up their suppliers, integrate them into a vertical structure and are able to squeeze competitors out of each segment without owning any particular market. Example, AT&T bought DirecTV. Now they aren't just providing internet, they're able to provide programming over the internet cheaper than t-mobile. That advantage will make it near impossible for t-mobile to compete... Which is what monopolies do to competition.
I hope the news doesn’t expect this to be shocking or breaking news.
Needed to do this a while ago. Its almost just as bad as back in the 1900s.
We always have to take a real hard look before we see the light of day.
Repeal Section 203 and split them up now!
Okay.... Step 1 done.
Hey GOP right-wingers in the comments: YOUR party is responsible for defanging Anti-Trust laws, and the reason why a handful of megacorps now own America.
Euthanize the monopoly
Lol I think marks finnaly starting to get a little to big for his britches
This just in water wet, fire hot, rock hard, sun bright, beer good.
Call it by proper name: DARPAbook
Break them up, absolutely. Mass media need the same. 25% should be the limit of expansion.