Facebook Wins Round One: US District Court Dismisses Monopoly Charges
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16 Comments
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2 years ago
So because users don’t pay for it, it isn’t a monopoly. Except that users aren’t the customers, the advertisers are the customers for the core product. The stock traders and other investors are customers that have to compete with the deep pockets of Facebook. The Standard Oil breakup wasn’t because Rockefeller was overcharging customers for lamp oil (in fact SO was always reducing retail price), it was because he made it nearly impossible to enter the field as a competitor. In fact, the Mellon backed Gulf Oil Company was creating competition, but it took another industrialist backed by an international bank to pull it off. Google tried several times to introduce a well-funded alternative, and today we have Tik-Tok going after new users before they have an established subnet on another platform, but this stuff feels like it will be generational, much like radio. AM radio was dominant into the 1970s even though FM signals were superior because that’s where the bulk of listeners were. But the Boomers didn’t listen to AM, which wasn’t playing the music they liked, so FM took over as AM users died off. AM was able to enjoy a little resurgence in the 90s with talk formats, but podcasting is quickly bringing that to an end because podcasting appeals to young listeners. I have no idea who’s listening to terrestrial radio these days, but my guess is they probably have a good bit of grey hair.
2 years ago
The biggest problem is the censuring of information. Based on what they call misinformation. Seems a lot of misinformation became fact later on. And a lot of information was actually misinformation. Their definition of misinformation has nothing to do with the correctness of the information. Rather it is whatever they don’t like.
2 years ago
Gold just made a quick drop down to the 1750-ish level. At least one of my mentors is looking for a quick reversal to the upside. I’m sitting this one out.
2 years ago
The feds are enabling company growth by acquisition/buy outs . whole lot easier to borrow cheap money/float stock than fund your investments via retained earnings . Also I got a hunch these social media companies might be like “parachute pants” . jus say’n
2 years ago
OT….interesting data on the COVID Delta variant, coming out of the UK. According to this source, nearly 8% of the 92K cases that had the sequence occurred in people who had been fully vaccinated.
link to cnbc.com
2 years ago
Three reported cases of the Delta variant so far in my county of practice. It bears watching, imho.
2 years ago
kabuki?
2 years ago
Regardless of the legal and technical intricacies, almost everybody would agree that this is more like Big Fish eat Little Fish than one market lady selling tomatoes competing against another tomato seller.
All these companies expand and innovate by buying out dynamic new upstarts … the opposite of what one wants to see happening on the playing field: diversity & dynamism, opportunity & risk.
2 years ago
60% of a market is way to high a mark to consider an entity a monopoly. I would think firms can warp market prices unfairly in their advantage with less. Depends a lot on the competition, of course.
This makes me think about needing 60 senators to agree on something to get it passed in a two party system is dumb too
2 years ago
Washington warned about this… but that apparently wasn’t heeded when the Constitution was written.
Time for a rewrite. The world that document was written for no longer exists.
2 years ago
What? Human nature no longer exists?
2 years ago
Yea. OK. Freedom of speech and general human rights are no longer needed. You must love countries like China.
2 years ago
All that stuff stays, but there’s a lot that need fixed. Law is software that is run by civilization, and it needs to be kept updated. The amendment and election processes are badly broken.
It’s not a holy book. There are no holy books, just people that believe there are.
2 years ago
But whom can you trust to update such a document?
Any change is going to be met with cries that it’s unfair to them (because by definition any change must make some people winners and some losers) and that those writing the change are just making it more favorable to them.
2 years ago
Election processes need fixing. People need to show who they are to insure they’re allowed to vote before voting. But, the democrats are against this because it’s racist. Without explaining how it’s racist. Cleary what they want is illegals voting for them. It’s the only reason that makes any sense.
2 years ago
It’s not just illegals they want to vote.
It’s also the ability to have someone vote for you (if you are unable to attend in person). This is why mail in is so controversial because someone can punch out hundreds (or thousands) of ballots if you mass collect them (and pay a small stipend to the person).
If you can’t be bothered to obtain an ID then you clearly don’t care that much about voting because if you did, you’d get the ID.