Should Facebook be broken up?
British media trade magazine Press Gazette recently ran an article where one of the directors of the London School of Economics has called for Facebook and Google to be broken up as virtual monopolies. While the two companies may not be publishers themselves, in today’s digital world these two companies have an enormous influence on what media gets to be shared. While the UK has stricter antitrust laws should Facebook and Google be broken up in the US?
When we think back to monopolies in the US being broken up we think back to companies like Standard Oil, US Steel and AT&T. While Facebook and Google are not similar companies to these ones from history, they do trade in the currency of our modern age, information, which these two companies do seem to have an inordinate amount of control on the flow of information. Even noted consumer advocate Ralph Nader says these companies release products and policies out onto the world without realizing what the consequences will be.
Now, some may say that Facebook and Google aren’t monopolies and that there is competition to these platforms, but is there really? While there may be other social networks and other search engines do any of them even compare to the industry leaders? Facebook has 2 billion users. Can anyone even name what the #2 social network is? Even if it is Twitter, their userbase doesn’t even come close to Facebook’s. What is the #2 search engine? Yahoo? Bing? Google is so large that their name has become a verb for looking things up on the internet.
Due to their undue influence on today’s media, maybe it’s time for Facebook and Google to start thinking smaller before the government does it for them?
Leave a Reply