Facebook Inc co-founder and Mark Zuckerberg's former college roommate Chris...
WASHINGTON - Facebook Inc co-founder and Mark Zuckerberg’s former college roommate Chris Hughes urged U.S. regulators to break up the social media company in a New York Times opinion piece on Thursday.
Hughes’ call to split Facebook from WhatsApp and Instagram followed a March pledge by U.S. Senator Elizabeth Warren, who is running for the Democratic presidential nomination for the 2020 election, to break up big tech companies.“Accountability of tech companies can only be achieved through the painstaking introduction of new rules for the internet.
“The case law as it stands today would make the structural breakup of any of these companies very challenging,” an antitrust expert based in Washington said.Famously, the United States sued to break up Standard Oil, accusing it of being an abusive monopoly. The case was fought all the way to the Supreme Court, which ruled in 1911 that the company should be broken up.
The FTC this week won a victory in trying to break up a merger of two prosthetic knee makers: Otto Bock HealthCare North America, Inc and Freedom Innovations. An administrative law judge ruled in its favor on May 6.U.S. lawmakers are also considering privacy legislation that would weaken companies like Facebook by reducing the amount of personal user data they control, thus reducing their value to advertisers.
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