It's been a rough day for Facebook: first the world's biggest social network was dumped by Kim Kardashian who called on her tens of millions of global followers to boycott Mark Zuckerberg's cash cow, and now the WSJ reports that the FTX is preparing to file a possible antitrust suit against the company, sending its stock plunging after hours, and dragging the Nasdaq lower.
The report reveals that the FTC has spent more than a year investigating concerns that Facebook "has been using its powerful market position to stifle competition" and may file a suit before the end of the year to challenge the company's monopoly in social media. The inquiry is part of a broader antitrust effort by authorities examining the conduct of a handful of dominant tech companies.
The WSJ reports that the probe, which is in its late stages and which was previously discloses by the company last year, included taking testimony from Mark Zuckerberg, something the commission didn’t do during a prior probe of the company’s privacy practices, and which resulted in a record-breaking $5 billion settlement. In other words, this time around either the monetary penalty will be materially higher, or the FTC may in fact pull a Standard Oil on Facebook, and split up the company.
The key FTC concerns and questions revolves around Facebook's prior acquisitions, "as well as about issues related to how Facebook manages its platform with regard to app developers." For its part, Facebook has countered that its acquisitions aren’t anticompetitive and have improved products and experiences for its users, although in light of today's market moving snub by none other than Kim Kardashian that approach may be in jeopardy. One almost wonders if Kim's tweet and the WSJ report weren't coordinated.
read more here: https://www.zerohedge.com/markets/facebook-plunges-report-ftc-preparing-possible-antitrust-lawsuit-year-end
Replies
The problem is two-fold. 1) Facebook has grown to such huge proportions, that there isn't likely to be ANYONE who could build an alternative site to offer it much competition. Further, Zuckerberg eliminates any smaller sites that begin to gain in popularity, by buying them up or driving them out of business by other, corrupt means. 2) Though Facebook violates the First Amendment hundreds of times per day, it is not a Constitutional Violation. They are a PRIVATE enterprise, free to set their own inside rules and guidelines, much like businesses that demand you wear a mask in order to be served. It isn't a LAW, it is Company Policy, completely separate and apart from our Federal Bill of Rights. The only thing anyone can do to end or even limit the blatant censorship of Conservatism by Facebook, is to boycott them. Even then, so many millions of people around the world are SO seriously addicted to the platform, especially the favored Leftists, that no effective boycott will ever happen. I had a personal page and two activism, group pages for YEARS on Facebook, and last week, ALL of it was simply erased and removed by Facebook because I made strong, Conservative statements. Try Parler, it's lacking in many ways, but it's fair and growing. Avoid MeWe, because Facebook owns it.
When people get tired of these, and other internet giants, get tired of seeing them hit Billions of dollars from selling their personal information & tracking them all over the internet maybe they'll get mad like I did & leave. I recommend boycotting them and everyone else financially supporting the radical left. There are other sites out there that are secure & don't get wealthy off of our personal information.
I hope they put them out of business!!!!!
Why by year-end... Why not now... or better why not yesterday. The evidence of market manipulation and domination is clearly stifling competition thru the use of unlawful monopoly practices. The FTC spent a year already... compiling the damning evidence... the DOJ needs to review it... One week... and then draft the indictment and or complaint(s) for criminal indictment and or civil enforcement. The delay is just more BS to stall enforcement of unfair trade and monopoly practices used by Facebook to maintain a commanding position in the social networking industry...
suck a turd weaponized facebook against conservatives, censoring anything that didn't fall into the " world according to suck-a-turd". You have to wonder how many times he went to epstein island, or if he and family have taken hydroxychloroquine.
Twitter and facebook are anti-Trump and therefore anti-American. They need to be shut down or taken over by real patriots or by the federal government if need be. It is high time that we start to eliminate anti-American/anti-Trump forces if we want to preserve our freedom and liberties, and if we want to make America really great again.
Trump and Barr need to make their operations impossible, shut them down, whatever it takes, any company that is anti-American needs to be cast onto the burning, stinking dung heap of marxism. People will get over it as soon as several companies fill the void.
NATZIYBERG
Twitter, Facebook, MEWE, and Instagram are places where the public is invited to participate in debate and the public, therefore, can not be denied their right to free speech.
You have obviously missed some vital information. There are no debates, they are one sided. Hillary sent the order out today for all social sites to censor any and all pro Republican comments.