Feds: Facebook Is Way To Big!
In a groundbreaking lawsuit the Federal government has decided to sue Facebook alleging anti competitive business practices. (CNN)
“The Federal Trade Commission, in particular, is seeking a permanent injunction in federal court that could, among other things, require the company to divest assets, including Instagram and WhatsApp, effectively breaking up Facebook as we know it. The states are also calling for the company to be broken up, if necessary.
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Facebook and its subsidiaries ARE social media as we have come to know it. Similar to the way Standard Oil WAS big oil in the late 1800s to the early part of the 20th Century and the government saw a need to inject competition into the marketplace to benefit consumers. Vastly different companies and completely different eras and possibly some similarities that may call for a more competitive marketplace. Who knows how all of this will play out, but large corporations today are rarely broken up and they have enough cash to buy their way out of these little bumps in the road.
