Facebook’s former co-founder Chris Hughes meets with FTC to investigate monopoly on Facebook

Facebook co-founder Chris Hughes, who has long come under the spotlight with his critical statements about the social network, is exchanging views with US legislators about dismantling Facebook.

As you know, the U.S. senate has been talking for some time to take steps against the monopoly of technology giants such as Facebook, Google and Amazon. The ftc launched an antitrust investigation against Facebook last month, followed by the Justice Department launching a new lawsuit against the company for antitrust surveillance.

Hughes, who left the company in 2007, met with the Federal Trade Commission and a number of state prosecutors, along with two leading antitrust advocates Tim Wu and Scott Hemphill.

Looking at Hughes’ presentation, facebook’s former founding partner has adopted an antitrust approach to “serial purchases for defense”.

According to this approach, Facebook has acquired rival companies to eliminate competitive threats. This strengthened the position in the advertising industry and was able to charge advertisers more. 

This meeting between Hughes and the FTC came after Facebook released its second-quarter earnings report. A spokesman authorized by Hughes declined to comment, while the FTC, the Justice Department, Wu and Hemphill remain silent. 

In the meantime, it is worth remembering Hughes’ views on Facebook, in an interview in May of this year, Hughes said that Facebook has become the largest of its kind and restricts consumer choices by leaving no room for entrepreneurship. . Hughes  also stated that the purchase of WhatsApp and Instagram should not have happened and should be compensated. 

Categories:   Digital