FTC re-files antitrust lawsuit against Facebook: full text here
Amid a Facebook marketing crackdown, the Federal Trade Commission on Thursday reinstated the antitrust lawsuit against the company, claiming it “has monopoly power” in the social media market, and maintains that monopoly by “systematically” buying out competitors and creating other barriers to competition. .
The re-referred lawsuit is seen as the Federal Trade Commission’s first major battle as it seeks to control the dominance of the big tech companies that have come to dominate American life. It is also seen as a test for the new head of the agency, Lina Khan, who has been an outspoken critic of Big Tech in her work in academia and from Facebook argue You should step down because of this work.
“Facebook is the world’s dominant online social network, with over three billion regular users. Facebook has largely maintained its monopoly by following CEO Mark Zuckerberg’s strategy, articulated in 2008: “Buy is better than competition,” the FTC’s complaint states. In accordance with this principle, Facebook has systematically tracked down potential competitors and acquired companies it deemed serious competitive threats. Facebook complemented its anticompetitive acquisition strategy with anticompetitive policing policies, designed to establish or maintain barriers to entry and neutralize Perceived Competitive Threats”.
News of the re-filed lawsuit, which was expected by many onlookers, came amid a marketing campaign by the company, which included announcing New ‘Transparency Report’ About the popular content on its platform and Unlock the virtual reality space Where Oculus VR headset users can attend remote meetings in digital form.
“No other personal social networking provider in the United States has remote access to Facebook’s domain,” the complaint adds.
Facebook did not immediately respond to a request for comment.
In addition to Facebook, the company also owns Instagram and WhatsApp, which are two of the most used platforms worldwide, and are prime examples of the company using its vast resources to dominate the social media market.
The Federal Trade Commission has been forced to reconsider its landmark lawsuit against Facebook after a federal judge She threw her original complaint in June after agreeing to Facebook’s motion to dismiss on the grounds that the government’s lawsuit failed to support its claims that Facebook is, in fact, a monopoly.
Read full FTC vs Facebook Antitrust lawsuit below
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