Comment | I changed my mind – Facebook is a monopoly

A.D. On August 6, 2021, I met with the Federal Trade Commission at the Office of the Attorney General of the State of New York, which is conducting a Facebook investigation into 46 states. On June 28, a federal judge’s case was dismissed by a federal judge, and the states could not prove that Facebook was a monopoly. FTC On August 19, he filed an amended appeal, which left Mawen one of Facebook’s few competitors. Similarly, the Attorney General’s Office is seeking an appeal. It has Facebook They responded By denying that he was a monopolist and calling the FCC’s case “mercilessly.”

I have changed my mind. Despite its modest size, MeWe continues to be a success. Two years ago, the platform had five million users and had no revenue. It now has nearly 20 million users and is breaking even millions of dollars. But for me, despite my progress, Facebook’s harassment over the past two years has led me to change my position for six reasons.

First, on July 28, 2021, Mark Zuckerberg announced that Facebook would change from a social media company to a “dynamic company” over the next five years. Facebook plans to spend billions of dollars and use virtual reality technology from Oaks and other companies to create a three-dimensional digital universe. Facebook plans to baptize everyone in the Facebook ecosystem at all times. They do not have the advanced technologies, infrastructure, resources and huge user base to build a competitive Metaverse. This will be the key to Facebook’s dominance.

Second, it announced on July 14 that content creators would pay more than $ 1 billion by the end of next year to post their first content on Facebook and Facebook. By comparison, TikTok, the world’s most downloaded social app, which is not owned by Facebook, is offering creators up to $ 200 million for premium content – only 20% of Facebook’s content budget.

Content is the backbone of a social network; Social media companies with limited funding cannot compete with creators and their content at this price point. Those creators have many reasons to avoid small platforms, as abusive Facebook can reduce their access and fees.

Third, on October 25, 2019, Facebook introduced a new section of news for news stories. Facebook has partnered with hundreds of major news outlets around the world to pay for content. This really shows the problem of quid pro quo. If their content contains content that is inappropriate for it, Facebook may refuse to renew the payment agreement or restrict the accessibility and distribution of those news outlets. Alternatively, Facebook may reward and highlight those news companies and articles approved by Facebook. February Facebook bans all news outlets in Australia after Canberra threatens to pay citizens for Facebook. According to Pew Research, approximately one-third of Americans get their news from Facebook.

Fourth, when Facebook can’t afford a competing competitor, it goes to war. Take it off Inc.

He has developed a document called Project Voldemort, which reports on Facebook’s anti-corruption behavior. According to the report, not only did Facebook shut down Snapchat features, but it also discouraged content creators from mentioning Snapchat and blocked the content from appearing on Facebook. MeWe has also documented reports of people being hijacked or spammed by people who mention MeWe in their Facebook posts.

Fifth, the glue that holds them all together is Facebook’s monopoly on data. The ownership and control of Facebook users and those who do not use them is unmatched. With that control, social media can distort our huge ideas, voices, and purchasing decisions. “Facebook knows you better than the CIA. . . . Facebook knows more about you than you know about yourself. ”

The CEO of Cambridge Analytics boasted that he respects information and psychological profiles of 220 million American adults, even on Facebook. Facebook databases provide unparalleled knowledge of people, governments and competitors. Facebook has even acquired a VPN app called Onavo to track hacked and competing apps for iPhone users. Onavo was eventually fired from the app store after Apple violated itit is

Privacy policies.

Sixth, 3.14 billion people use Facebook-enabled products, including Facebook, Instagram, WhatsApp and Messenger. That is about half of humanity. Facebook is currently targeting 6 to 12 children in the Messenger Messenger app, despite the recent spate of Instagram hits. This is a Facebook plan – to be immersed in Facebook products of all ages throughout their lives.

While social media companies such as MeWe, Snapchat, and Twitter can grow to hundreds of millions of users, Facebook’s market power and monopolistic behavior will prevent any social network from challenging it. Facebook’s massive footprints and anti-incompetence actions: Buying emerging stars or hiding their characteristics – prevents countless startups and makes potential competitors less likely to succeed.

So I changed my mind. Facebook is a monopoly that the world has not seen. More than any nation or government, it has the power to influence, distort, and change ideas, opinions, voices, and purchasing decisions around the world. It has an army of lobbyists who are effective regulators.

what to do? Dismantling Facebook from Instagram, WhatsApp and other apps is not enough. They all worked with the same basic mode opred. They work in the same information ecosystem, where social media user data is shared on platforms by advertisers and marketers. The Facebook split could follow the same incense as AT&T Corporation

, It was divided into “baby bells” by federal inspectors in 1984, only to be reunited over the years.

Additional privacy laws and regulations will likely solve the problem. It appears that Facebook repeatedly supports and violates privacy laws, which it violates. The company then pays the fine as “business value.” One example – In 2019, the company will be able to better protect its users’ personal information than the FCCT.

To meet this challenge, a new approach is needed in the anti-religious regulation. The freedom of content creators and news editors must be protected from Facebook’s wrath and punishment, perhaps through laws that protect news outlets and creators from retaliation. The information block on Facebook cannot be easily fixed. It needs to be improved. There should be new support for beginners and the free market, such as content mobility, new subsidies, tax breaks and other incentives, as well as protection and extension of Section 230 Accountability Protection. Facebook needs more competition than ever to dominate social media, news, personal information and democracy.

In a recent video, Facebook’s chief technology officer, Mike Schroeder, described the company’s new device, which allows it to scan our brains and read our minds without saying a word or typing a word. What could go wrong?

Mr. Weinstein is the founder and chairman of MEII.