The Daily Should Facebook Be Broken Up?
Dec 17, 2020
Mike Isaac, a technology correspondent for The New York Times, shares insights on the government's case against Facebook, stemming from its $1 billion acquisition of Instagram. He discusses Instagram's rise and the implications of Facebook's monopolistic behavior. The conversation also covers the potential breakup of Facebook, drawing parallels to the historic Microsoft case, and explores the complexities of consumer harm in the digital age while highlighting the ongoing challenges in social media regulation.
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Instagram's Rise
- In 2010, Instagram started as a check-in app called Burbn, but it pivoted to photo sharing.
- Its photo filters, making ordinary photos look artistic, fueled its rapid growth among smartphone users.
Facebook's Acquisition of Instagram
- Mark Zuckerberg recognized Instagram's potential disruption to Facebook.
- Instead of competing, Facebook acquired Instagram for $1 billion in 2012.
Facebook vs. Snapchat
- When Snapchat rejected Facebook's acquisition offer, Zuckerberg used Instagram to compete.
- Instagram copied Snapchat's "Stories" feature, effectively hindering Snapchat's growth.