BREAKING: Huge Facebook news

[dahliaclone]

This is massive massive news. Not necessarily surprising but huge nonetheless.

Facebook must be broken up, the US government says in a groundbreaking lawsuit

Dozens of states and the federal government sued Facebook on Wednesday in twin antitrust lawsuits, alleging that the social media giant has abused its dominance in the digital marketplace and engaged in anticompetitive behavior.

www.cnn.com

 

[KnappShack]

MySpace ..... Back from the grave, b*tches!!!

But seriously. **** Facebook

 

[Cloneon]

This is massive massive news. Not necessarily surprising but huge nonetheless.

Facebook must be broken up, the US government says in a groundbreaking lawsuit

Dozens of states and the federal government sued Facebook on Wednesday in twin antitrust lawsuits, alleging that the social media giant has abused its dominance in the digital marketplace and engaged in anticompetitive behavior.

www.cnn.com

And Google goes untouched? Hmmm. Hypocrisy runs deep. I've said for 20 years the definition of 'monopoly' laws needed to be updated to accommodate technological advances. Or Microsoft. It took an 'open source' operating system to threaten their dominance. It's despicable that it came to that. All that said, how on earth do you break up a social platform? It's not like steel or AT&T or Standard Oil. The whole idea behind social networking is being able to reach people across the globe. This is going to be fun to watch.

 

[MeowingCows]

I mean Facebook sucks a big one but I fail to see how it's a "monopoly", being the biggest and most well-known doesn't constitute an unlawful business practice. There's tons and tons of other social media outlets out there, copies of copies of stuff. Then again, I guess it can't really hurt, but just passing off WhatsApp and Instagram isn't gonna change much.

 

[Busch__Latte]

Good, now do Google and Amazon.

 

[dahliaclone]

And Google goes untouched? Hmmm. Hypocrisy runs deep. I've said for 20 years the definition of 'monopoly' laws needed to be updated to accommodate technological advances. Or Microsoft. It took an 'open source' operating system to threaten their dominance. It's despicable that it came to that. All that said, how on earth do you break up a social platform? It's not like steel or AT&T or Standard Oil. The whole idea behind social networking is being able to reach people across the globe. This is going to be fun to watch.

For now Google goes untouched. I assume the other giants will follow.

 

[BryceC]

I don't think this is huge until we know what it looks like. I doubt this effects the main facebook platform. They will probably have to spin off Insta, but that deal never should have happened in the first place.

 

[Cloneon]

Good, now do Google and Amazon.

Amazon is easy. Interstate distribution channels, tax on gas, interstate taxing, to name a few ways to throttle Amazon fairly.

 

[GBlade]

Good, now do Google and Amazon.

They are preparing antitrust cases against Google as well. Ultimately it's the bundling of Ad providers and social media services that leads to anticompetitive behavior. I don't expect these lawsuits to stick without new laws on the books in congress.

 

[Brandon]

Now we know why so many went to parler.

 

[ISUCyclones2015]

Google is being sued in their search space with other areas still being probed by states/the DOJ. Amazon is still being probed as well.

Google sued by DOJ in antitrust case over search dominance

The lawsuit marks the first major antitrust litigation against a technology company since the DOJ's case against Microsoft in the late '90s.

www.cnbc.com

 

[Mtowncyclone13]

if i was as rich as Zuck I'd walk away and let someone else deal with all this.

 

[jdcyclone19]

Google knew this was coming eventually and is why they did did what they did a few years ago. I wonder how this will work with google because google is now owned by Alphabet. Alphabet has all of the subsidiaries. From wikipedia, As of September 1, 2017, their equity is held by a subsidiary known as XXVI Holdings, Inc. (referring to the Roman numeral of 26, the number of letters in the alphabet), so that they can be valued and legally separated from Google. At the same time, it was announced that Google will be reorganized as a limited liability company, Google LLC.[24][25]

 

[mdk2isu]

if i was as rich as Zuck I'd walk away and let someone else deal with all this.

His wealth comes mostly from the FB stock he owns. So he needs to deal with it to keep the stock price up to maintain that wealth.

 

[VTXCyRyD]

if i was as rich as Zuck I'd walk away and let someone else deal with all this.

If I were a rich as Zuck I'd be taking Landjet everywhere.

 

[ISU22CY]

FB is a cesspool but if they don't go after Google, Amazon heck even Apple it really means nothing as far as wanting to crack down on "Monopolies" in tech.

 

[ISU22CY]

His wealth comes mostly from the FB stock he owns. So he needs to deal with it to keep the stock price up to maintain that wealth.

Even if it tanked (which it would) before he had a chance to offload all of his shares he would still be able to live pretty comfortably

 

[tman24]

So first order be to remove the facebook account requirement for oculus?

 

[ianoconnor]

if i was as rich as Zuck I'd walk away and let someone else deal with all this.

Right - would have done that years ago.

 

[dahliaclone]

Also noteworthy today.

WSJ News Exclusive | Apple and Google to Stop X-Mode From Collecting Location Data From Users’ Phones

After the data broker came under scrutiny for national-security work, tech giants tell app developers to remove trackers or lose access to their operating systems.

www.wsj.com