FTC's updated suit against Facebook incorrectly claims that Facebook has driven up ad prices via monopoly control over the personal social networking market
the only two “no” votes against bringing an antitrust action against Facebook were the two GOP commissioners. Despite all their bluster, Republicans love Big Tech. https://twitter.com/... @hurricap : $FB A wide moat in action. https://www.ftc.gov/... https://twitter.com/... Warwick Simons / @warwicksimons : FTC complaint against $FB is a huge stretch. 1) The market is advertising not social media, and FB/Insta have plenty of competition from YouTube, Twitter, LinkedIn, TikTok, etc. 2) From @eric_seufert, these ad platform don't set prices anyway: https://mobiledevmemo.com/... Jason Kint / @jason_kint : good addition in the amended complaint here in yellow to add clarity to the impact of WhatsApp being under the control of Mark Zuckerberg. /19 https://twitter.com/... James Surowiecki / @jamessurowiecki : The FTC is arguing that Instagram *was* a competitor to Facebook, making Facebook's acquisition of Instagram anti-competitive, but that TikTok is not a competitor to Facebook? How does that make any sense? https://www.washingtonpost.com/ ... Cecilia Kang / @ceciliakang : so it appears FTC is no longer claiming 60 percent control of personal social networking? Lance Ulanoff / @lanceulanoff : It's a longer complaint (by almost 30 pages) but maintains most of the core arguments revolving around WhatsApp + Instagram acquisitions and how Facebook constrained competitive access to its APIs and interface https://www.cnbc.com/... @econliberties : The @FTC's amended complaint against @Facebook includes detailed proof of @Facebook's >60% market share & lays out the anticompetitive tactics they've used to grow their power. As @PharmaCheats puts it, “In this [new] complaint, the FTC shows its work.” https://www.marketwatch.com/ ...