The FTC's antitrust case against Meta, including its acquisitions of Instagram and WhatsApp, fails to comprehensively tackle the real sources of the company's significant market power. Observations from Mark Zuckerberg's testimony reveal a fundamental misunderstanding of social media dynamics by the FTC. Their restrictive market definition excludes competitor platforms, enabling Meta to appear monopolistic with an 80% share in a limited subset of social media. This flawed focus raises concerns about the effectiveness of the FTC's approach to regulating such tech giants.
The government should be scrutinizing Meta's power. Unfortunately, its legal attack isn't cutting to the heart of what keeps Meta big.
To establish the market it argues Meta has a monopoly in, the FTC has defined a subset of social media... that conveniently gives Meta a de facto legal monopoly.
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