There are not a lot of issues that liberals and conservatives can agree on these days.
When looking at the democratic and republic national platforms, there appears to be ZERO chance for compromise.
Well, actually they seem to agree on the belief that a handful of tech companies are monopolizing their markets, with no end anytime soon and must be broken up.
As a capitalist, I am typical against government intrusion into businesses but with the influence, these corporations have in controlling messaging nationwide, using increased censorship, this time I might be on board with Uncle Sam.
Politico reports that federal antitrust authorities and dozens of states are set to launch a double-barreled legal assault against Facebook over allegations of antitrust violations. Both lawsuits aim to force Facebook to break up its empire which includes messaging service WhatsApp and photo-sharing app Instagram.
Attorneys general from 48 U.S. states and territories, including New York, is behind one of the suits that were first hinted at last week. The second suit filed by the FTC is set to be filed later this afternoon. New York States attorney general, Tish James, announced two months later that she was leading a multistate coalition probing antitrust concerns of Facebook.
The cases accuse Facebook of illegally using its power for more than a decade to push out rivals and buy out rising competitors, noting WhatsApp and Instagram as specific examples of this. Facebook has continued to purchase multiple companies despite recent scrutiny, Breitbart News recently reported on Facebook’s purchase of the customer service startup Kustomer in a deal valued at more than $1 billion.
The suit is part of the growing concerns world governments have when trying to prevent complete market domination by these massive U.S. tech firms. In October, the Justice Department and a smaller group of U.S. states filed a similar antitrust lawsuit against Google.
Facebook has actually denied being a monopoly, pointing out that it ranks behind Google in how much revenue it takes from the $160 billion global markets for online advertising. Oh, so these two dominate their market spaces but since Facebook is a little behind Google, they should not be a concern for regulators?
Google and Facebook maintain a duopoly over the online advertising market.
When I spoke with one of the marketing managers at Microsoft she told me the two companies, with others, actually share the flow of consumers, classifying Facebook as a “Frenemy”.
Yes, it’s time to break them up before they are too big to do so.