As we explained back in August, the @FTC's revised suit provided detailed proof of @Facebook’s >60% market share + laid out the copy-acquire-kill strategy @Facebook has used to build this unprecedented and dangerous power.
THREAD 🧵👇
THREAD 🧵👇
https://twitter.com/ceciliakang/status/1480997362235584517
2/ The case represents today’s new-look @FTC jumping at a chance to right the commission’s previous wrongs.
It included a strong Section 2 claim and clearly explained the anticompetitive nature of @Facebook's acquisitions of @WhatsApp and @Instagram.
It included a strong Section 2 claim and clearly explained the anticompetitive nature of @Facebook's acquisitions of @WhatsApp and @Instagram.
3/ The case is also a crystal clear example of the @FTC's new commitment to pursuing economic fairness and meaningful competition, no matter how powerful the enemies it makes doing so.
4/ So, let’s dive in. Why is @Facebook’s rollup of @WhatsApp and @Instagram such a big deal?
Since buying out its competitors, @Facebook has weakened consumer privacy protections, and attained a dangerous dominance over the internet’s attention span.
Since buying out its competitors, @Facebook has weakened consumer privacy protections, and attained a dangerous dominance over the internet’s attention span.
5/ Indeed, @Facebook wields its power over our eyeballs to shocking and damaging effect.
It propagates vaccine misinformation and conspiracy theories. It extorts small businesses. It destroys local news. It endangers the mental health of our kids.
It propagates vaccine misinformation and conspiracy theories. It extorts small businesses. It destroys local news. It endangers the mental health of our kids.
6/ As Mark Zuckerberg has admitted — in internal emails he tried to obfuscate when called out by Congress — these mergers were anticompetitive by design:
theverge.com/2020/7/29/2134…
theverge.com/2020/7/29/2134…
7/ The @FTC was forced to re-file this case because Congress has allowed a murky, confusing, and too-narrow judicial interpretation of once-strong antitrust laws to take root.
8/ Lawmakers neglected antitrust enforcement for generations, and in some cases intentionally weakened it. They must act now to reverse this erosion and restore true competition to our economy.
9/ It took courage, hard work, and commitment for the @FTC to rebuild the suit and re-tool it under immense deadline pressure imposed by the court.
Today's decision reflects that.
Today's decision reflects that.
10/10 Today's decision is a win for the @FTC and a victory for the communities, small businesses, and local newspapers that have been shattered by Facebook’s toxic business model.
We'll be watching for what comes next.
We'll be watching for what comes next.
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