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Forums - General Discussion - U.S. and 48 States Say Facebook Illegally Crushed Competition, seek to unwind old mergers

https://www.nytimes.com/2020/12/09/technology/facebook-antitrust-monopoly.html?action=click&module=Spotlight&pgtype=Homepage

As someone who doesn't like Facebook or its practices in the least, I can't say I'm bothered by this action per se, and I think that for its own sake the US needs to be much more restricting when approving corporate mergers in general. It's interesting to want to unwind mergers that happened years ago though, and with the blessing of the relevant federal agencies.



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So there's a chance that Whatsapp gets free from FB's clutches?

I dont see how that is gonna be easy....



    

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It's odd when something this big has bipartisan support. So many Democrats and Republicans hate FaceBook for one reason or another. I thought for a while it would be just Democrats because of 2016, but then my state sent Josh Hawley to the senate and that man is on a warpath against Silicon Valley and has inspired many other Republicans to follow suit. If he ever becomes president, which some suspect he will run for, I think we will have the biggest "trust-busting" president of our lifetimes. The war on Big Tech, if you will. But back to the present, the lawsuit itself is amazing because of the unity it demonstrates.



This seems like great news to me. I hope this succeeds, and it certainly seems like it might have a chance due to the amount of support it has.



noname2200 said:

https://www.nytimes.com/2020/12/09/technology/facebook-antitrust-monopoly.html?action=click&module=Spotlight&pgtype=Homepage

As someone who doesn't like Facebook or its practices in the least, I can't say I'm bothered by this action per se, and I think that for its own sake the US needs to be much more restricting when approving corporate mergers in general. It's interesting to want to unwind mergers that happened years ago though, and with the blessing of the relevant federal agencies.

Yeah, kind of makes the FTC look pointless, toothless, and incompetent.  Why approve these major mergers at all?  Not that much has changed since the Instagram and WhatsApp acquisitions.  They were only 8 and 6 years ago.

Seems like there is always a lot of back and forth with approvals, even sometimes taking years, but I can't remember the last major deal that actually got shut down.



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This is how republicans and democrats squeeze billions out of tech giants. Nytimes is part of their cartel.