The Intelligence from The Economist If you already joined ‘em, beat ‘em: Facebook gets sued
Dec 10, 2020
Hal Hodson, Technology correspondent for The Economist, delves into the antitrust lawsuits against Facebook, exploring how past mergers are coming under scrutiny to combat its market power. Roseanne Lake, the Cuba correspondent, sheds light on the Movimiento San Isidro, an artist-led protest movement advocating for freedom of expression in a repressive regime. The conversation reveals the intersection of technology, activism, and regulatory challenges, highlighting both the quest for fair competition and the brave voices rising against oppression.
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Facebook's Anti-Competitive Conduct
- The FTC alleges Facebook used its market power to squash competition and maintain dominance.
- The lawsuits aim to address this by potentially forcing Facebook to sell Instagram and WhatsApp.
Acquisitions Stifled Competition
- Facebook acquired Instagram and WhatsApp to eliminate future competition, hindering the social internet's competitive dynamics.
- It's uncertain whether these platforms would thrive independently today.
Consumer Harm
- Facebook's dominance increases social media marketing costs for businesses.
- These costs are passed on to consumers, reducing consumer choice.