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Posted: 2020-08-01 12:18:41

Dawg on the Wall

"When the committee’s report comes out, expect to see a recommendation that Facebook be required to spin Instagram"

From Scott Galloway at Prof Galloway
Originally published 2020 07 31
Zuck went on to acknowledge, even brag, that once Facebook bought Instagram, they crushed all of Instagram’s competition. Zuck’s answer made clear that Facebook’s market power is so great, they can terminate an entire market category simply by appending it to their business. When the committee’s report comes out, expect to see a recommendation that Facebook be required to spin Instagram, citing this answer and an assessment of how Facebook used its resources, network effects, and other powers to grow Instagram and push its competitors out of the market. Nadler knew a gift when he got one: “Mr. Zuckerberg, you’re making my point.” 
Zuck went on to acknowledge, even brag, that once Facebook bought Instagram, they crushed all of Instagram’s competition. Zuck’s answer made clear that Facebook’s market power is so great, they can terminate an entire market category simply by appending it to their business. When the committee’s report comes out, expect to see a recommendation that Facebook be required to spin Instagram, citing this answer and an assessment of how Facebook used its resources, network effects, and other powers to grow Instagram and push its competitors out of the market. Nadler knew a gift when he got one: “Mr. Zuckerberg, you’re making my point.” 
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Tags:conservative bias,rep. jayapal,fox news,big tech,mr. zuckerberg,instagram,signal of monopoly,district of ri,similar upcoming senate,Uncategorized

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