United States The state’s attempt to incite Facebook’s power was hit hard when two major charges were dismissed – the company’s value rose to more than $ 1,000 billion

At the heart of the charges is the question of whether Facebook, which bought Instagram and Whatsapp, has become a monopoly. President Joe Biden, among others, has made it one of his main goals to try to limit technological waste.

The United States a federal attempt to incite social media giant Facebook’s power got hit hard when a federal judge dismissed two charges brought by the U.S. Trade Commission. The second indictment also involved 45 U.S. states.

The aim of both charges was to get the company, which had grown into a large company, divided into smaller parts.

The matter was reported, among other things The New York Times, Politico and BBC.

Charges The Trade Commission is a U.S. government agency tasked with overseeing free competition and consumer protection, and preventing the emergence of monopolies.

At the heart of the charges against Facebook is the question of whether the company has become a monopoly. According to the Trade Commission, this is the case, as Facebook has bought many of its competitors, most notably the image service Instagram and the chat app Whatsapp.

Particularly concerned is about how much Facebook benefits from data collected from many platforms and its combination. The company has not clearly stated how it will use the data.

U.S. Congress, President Joe Biden and several states have made inciting the growing power of large technology companies one of their top goals.

The charges the judge who made the decision was dismissed James Boasbergin because they did not provide sufficient evidence that Facebook had become a monopoly. The judge also noted that the prosecution took too long, as the Instagram and Whatsapp deals criticized in them were made in 2012 and 2014.

The Trade Commission has 30 days to complete its charges.

In Congress, lawmakers have ruled that anti-cartel laws that are more than a hundred years old are ill-suited to prosecuting the Internet market.

Facebook representative Christopher Sgro was naturally pleased with the dropping of the charges.

“We compete a lot every day for people’s attention and time,” Sgro noted.

News of the rejection caused the value of the Facebook share to rise to 4.2 percent. Thus, for the first time, the company rose to become one of the few companies worth more than a trillion, or a thousand billion dollars.



Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: