Some additional reactions to the @FTC’s incredible case against @Facebook 👇
2/ This suit details @Facebook’s monopoly power in multiple ways.
3/ First, the complaint shows that @Facebook has dominated the social media market whether measured by time spent or daily active users since 2011.
4/ @Facebook likes to play dumb — but the data *they* use to track their own performance shows just how dominant they are.
5/ Second, the @FTC provided direct evidence of @Facebook’s durable monopoly power, including the fact that @Facebook has enjoyed record profits despite widespread consumer dissatisfaction.
6/ A @Facebook exec, who apparently doesn’t know you’re not supposed to write down your evil plan, explained clearly how @Facebook could maintain its power by making it increasingly hard for users to switch to another platform.
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The @FTC today filed a revised suit providing detailed proof of @Facebook’s >60% market share + laying out the copy-acquire-kill strategy @Facebook has used to build this unprecedented and dangerous power.
THREAD 🧵👇
2/ This case represents today’s new-look @FTC jumping at a chance to right the commission’s previous wrongs.
It includes a strong Section 2 claim and clearly explains the anticompetitive nature of @Facebook acquisitions of @WhatsApp and @Instagram.
3/ Today’s news is therefore a huge and promising step toward restoring the promise of the American economy.
It shows the new leadership at @FTC is committed to pursuing economic fairness and meaningful competition, no matter how powerful the enemies it makes doing so.
Apparently it's not enough for Bezos' empire to trap actually-productive people in their exploitative business model -- they want to turn them into PR props too. cnbc.com/2021/08/18/ama…
.@amazon forces sellers to pay a host of fees if they want their products to be seen. But even that is no guarantee they’ll be able to fairly compete.
That's not investing in small biz, it's theft. Don’t just take our word for it, listen to a seller:
Here’s just one tactic @amazon uses: It forces sellers to pay to use @amazon’s logistics network if they want to reach customers — even if the sellers are better at handling logistics than @amazon is. thenation.com/article/politi…
Enforcing our antitrust laws will protect small businesses from being taken advantage of, lied to, and retaliated against by big corporations like … @amazon.
2/ @amazon forces sellers to pay a host of fees if they want their products to be seen. But even that is no guarantee they’ll be able to fairly compete.
That's not investing in small biz, it's theft. Don’t just take our word for it, listen to a seller 👇
3/ Here’s just one tactic @amazon uses: It forces sellers to pay to use @amazon’s logistics network if they want to reach customers — even if the sellers are better at handling logistics than @amazon is. thenation.com/article/politi…
3/ Because there are so few American-made fireworks, 98-99% of fireworks purchased in the U.S. come from China. 🎆
And one businessman controls ~70% of those fireworks, which has allowed him to raise prices & block competitors from entering the market. washingtonpost.com/graphics/2018/…
In a new letter to the @FTC, @RepKatiePorter is calling on the agency to investigate collusion between Eli Lilly, Novo Nordisk & Sanofi to raise insulin prices. 👏👏👏
@RepKatiePorter’s letter makes it clear: the @FTC must #InvestigateInsulinNow b/c corporate collusion to raise insulin prices is killing those whose lives depend on it.
As @dingeratemybaby shared at the first #InvestigateInsulinNow event, a recent survey from @t1international revealed that over 1/4 of diabetics in the U.S. rationed their insulin in the previous year & cost is a likely barrier.
2/ From union busting to endangering drivers and warehouse workers to stealing intellectual property, Amazon is such a bad actor we had to make a tracker just to keep up with all the abuse. 👇