- https://archive.ph/w58QJ
- Why is a fine even an acceptable resolution?
Previously the FTC had been running such that, if it could not prove an acquisition was bad it would approve it.
In this case, back in 2012 Instagram was small, didn't charge money, and not considered a competitor to Facebook.
Well, we sure as hell know now it was a bad idea. Harmed consumer privacy, removed other competitors, and expanded the network effect of then Facebook.
And before anyone says "oh what about YouTube, X, TikTok, competitors" - Yes they should all be split off from their parent companies too.
- So weird seeing him dressed up without his redpilled-Zuck-style over-sized t-shirt.
by giancarlostoro
6 subcomments
- Assuming Mark Zuckerberg coughs up 30 billion somehow, who gets that money? Like really, and where does it go to? Serious question.
- Microsoft will be targeted last, [0] with good reason. (They know how to avoid anti-trust scrutiny the best).
This is why Google, Apple, Amazon and Meta have all been targeted first, before building a huge case for Microsoft.
Again, it won't be easy as the FTC and the DOJ have failed to break Microsoft up many times.
[0] https://news.ycombinator.com/item?id=41475806
- Whatsapp and Instagram only compete with others if you can convince others to install another app and switch to it. Switching phones is easier, so is whatever else you personally use by far. I'm glad beeper exists, but it shouldn't have taken this long for it to exist. Only one way to reduce harmful network effects, give users more choice.
by thaumasiotes
2 subcomments
- > “We haven’t been shy about explaining why it doesn’t make sense for the FTC to bring a case to trial that requires it to prove something every 17-year-old in America knows is absurd—that Instagram doesn’t compete with TikTok,” she said.
In this hypothetical scenario:
1. Instagram competes with TikTok, winning a minority share of the market.
2. The government decrees that TikTok is anathema and expels them from the market.
3. The government sues Instagram for having a supermajority share of the remaining market.
I feel like there should be a form of estoppel preventing the argument.
by theideaofcoffee
0 subcomment
- Get fucked, Zuck. I hope the knee-bending was worth it! I also hope that any case (as one could be pretty sure there will be litigation over it) in the future finds in favor of the commission. The fine can't be big enough for the shit it's put the world through.
- Trump is offended by measly sums which Zuck has put in his pocket. Anti-trust crusade is a perfect way to shake more from him. Give the bully an inch, he will take a mile.
by 1vuio0pswjnm7
0 subcomment
- "FTC Chairman Andrew Ferguson found the offer not credible, and wasn't ready to settle for anything less than $18 billion and a consent decree."
"Former FTC Chair Lina Khan told the Journal that the company's $450 million settlement offer was "delusional.""
by OsrsNeedsf2P
2 subcomments
- People saying Zuck's ass kissing didn't work are missing the point. If it even has a 1 in 10 chance of working, it's worth it
by 9283409232
4 subcomments
- It would be hilarious if Zuckerberg spent all this time kissing Trump's ass only for him to not care and the FTC wins against Meta.
by blcknight
3 subcomments
- Looks like all the bending the knee to Trump didn't work out so well for Zuck.
by Apocryphon
2 subcomments
- So much for the vaccine skepticism as free speech virtue signaling
by amazingamazing
3 subcomments
- just ban all acquisitions and stop the charades. all acquisitions will be anti competitive if they succeed anyway
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