Mon. May 20th, 2019

Facebook co-founder calls for breakup of the social network

Source: https://www.theverge.com/2019/5/9/18538106/facebook-co-founder-chris-hughes-breakup-regulation-ftc-us-government

Facebook co-founder calls for breakup of the social network

In an op-ed written in The New York Times, one of Facebook’s co-founders has called for the social network to be broken up. Chris Hughes, who helped Mark Zuckerberg launch Facebook from his Harvard dorm 15 years ago, says that the Federal Trade Commission should reverse Facebook’s acquisition of WhatsApp and Instagram in order to create more competition in the social media and messaging markets.

Hughes makes the economic argument that Facebook has become a monopoly and that this has limited competition and held back innovation. It’s impossible for users to switch to an alternative social network because no serious competitors exist. Hughes says that no new social networks have been launched since 2011 and that 84 percent of spending on…

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Source: https://www.theverge.com/2019/5/9/18538106/facebook-co-founder-chris-hughes-breakup-regulation-ftc-us-government

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