Economist Podcasts If you already joined ‘em, beat ‘em: Facebook gets sued
Dec 10, 2020
Hal Hodson, Technology correspondent for The Economist, discusses the antitrust lawsuits facing Facebook, spotlighting its controversial acquisitions of WhatsApp and Instagram. Roseanne Lake, Cuba correspondent, delves into the surge of the Movimiento San Isidro, a powerful artist-led protest against oppressive government actions. The conversation weaves through legal challenges for Big Tech and the fight for freedom of expression in Cuba, making for an engaging exploration of contemporary activism and regulation.
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Anti-Competitive Behavior
- Facebook allegedly used its market power to squash competition and maintain dominance.
- The lawsuits aim to address this anti-competitive behavior.
Acquisitions as Anti-Competitive
- Facebook's acquisition of Instagram and WhatsApp, made almost a decade ago, are central to the FTC's case.
- The FTC argues that these acquisitions were anti-competitive, eliminating future competition.
Consumer Harm
- Facebook's dominance makes marketing more expensive for businesses.
- These high costs are passed on to consumers, reducing consumer choice and increasing prices.