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A district court just threw out an FTC antitrust suit against Facebook after the FTC failed to provide adequate evidence of Facebook possessing monopoly power. What is monopoly power? Well, it’s the power to raise prices above competitive pricing and block new entrants into a product market. If that sounds hard to prove, you’re right. Here’s what happened.
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Congress has proposed five new laws that will help regulators: The American Innovation and Choice Online Act, The Ending Platform Monopolies Act, The Platform Competition and Opportunity Act, The Augmenting Compatibility and Competition by Enabling Service Switching Act, and The Merger Filing Fee Modernization Act. These new laws would update America’s antitrust scheme for the modern day, shifting emphasis from the days of regulating steel and oil barons to the days of regulating big tech and free services. Here’s what’s happening!
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The FTC and 46 states are investigating Facebook’s acquisition of Instagram and Whatsapp. The question is whether the driving motivation for Facebook’s decision to acquire these companies was to harm competition or strengthen the quality of its products and services. Here’s what the debate looks like.
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