Facebook sued by 48 state attorneys for anti-trust

[TheButcher]

Oh boy Christmas came early for a lot of attorneys and law firms.



https://www.yahoo.com/finance/news/face ... 39255.html



"Facebook sued by FTC, 48 attorneys general alleging it operates an illegal monopoly
Alexis Keenan and Daniel Howley
Wed, December 9, 2020, 2:38 PM GMT-5

A group of 48 U.S. attorneys general led by New York filed an antitrust lawsuit against Facebook (FB) on Wednesday, alleging the social media giant is violating antitrust law by buying up competitors and depriving consumers of alternatives that would better protect their privacy. The Federal Trade Commission (FTC) filed a separate suit alleging similar antitrust violations.

At the heart of both lawsuits are claims that Facebook’s acquisitions of Instagram in 2012 for $1 billion and WhatsApp in 2014 for $19 billion, as well as other smaller technology companies, were carried out in order to quash competition. As part of its lawsuit, the FTC wants to force Facebook to break off both Instagram and WhatsApp.

“After identifying two significant competitive threats to its dominant position — Instagram and WhatsApp Facebook moved to squelch those threats by buying the companies, reflecting CEO Mark Zuckerberg’s view, expressed in a 2008 email, that ‘it is better to buy than compete,’” the FTC lawsuit stated.

Facebook is the largest social network in the world with 2.7 billion monthly active users across its four apps: Facebook, Messenger, Instagram, and WhatsApp."

[BrasSmonkey]

yup! i think i said of here they kept asking for a copy of my face.

[badkitty]

yup! i think i said of here they kept asking for a copy of my face.

you must be sexy to them

[BrasSmonkey]

yup! i think i said of here they kept asking for a copy of my face.

you must be sexy to them

nope! they have never seen me

[rx_tom]

What is wrong with the idea that you buy your competition to reduce your competitors never made sense, it is business.

[trafficseller]

What is wrong with the idea that you buy your competition to reduce your competitors never made sense, it is business.

Nothing except for competition is good for the end user.

[BarbaraCum]

Good facebook need a rude awakening, some of their terms I can not stand.

[monsta]

Instagram and WhatsApp are both good services they can survive on their own I use both .

[AlexO]

Well may be some good will come out of this for the suckers like me and you who use these sites.

[Dallastim]

Merry Xmass to the stock holders rofl

[Webby]

They can try all they want, facebook has so many users they are here to stay, and if the company wants to buy more platforms they will. This is all a waste of time and money, so what they bought a couple sites big fuckin deal.

[nudelinks]

It's only money they want, that is why these type of law suits get started.

[blackbooty]

Why not all 50 states roflmao

[britporn_mike]

Nothing new on this?

[gotonudecom]

What is wrong with the idea that you buy your competition to reduce your competitors never made sense, it is business.

I wish I could insert a history lesson here.

In short it is what happens to US after there is NO competition that is important.
OUR Governments were created to protect US not them. Not that that is how it is currently working, but that is the point.