Economy

Facebook Argues Against Breaking Up Facebook

Facebook Argues Against Breaking Up Facebook”

He said he does not invest in any social media companies.

Nick Clegg, the former coalition ball of sadness and current vice president of global affairs and communication for Facebook, has a somewhat different spin on things.

Facebook's vice president for global affairs, Nick Clegg has now responded with an op-ed of his own, stating that Facebook's size isn't the problem and that the social media giant's success as a platform can not be punished by breaking it up.

Facebook operates the world's largest online social network with more than 2bn users, and also owns popular photo-sharing app Instagram and messaging services WhatsApp and Messenger.

Facebook and its family of services have many competitors, and can find corporate efficiencies when it comes to data centers, talent and other resources that can work on its various offerings, Clegg said.

Zuckerberg said that Facebook's budget for safety this year is bigger than the whole revenue of the company when it went public earlier this decade. This was the beginning of Facebook - the top "social networking" site today.

The social media company responded Saturday with a Times opinion piece of its own, penned by Facebook VP Nick Clegg, who attempted to counter what he viewed as Hughes' position that the size of a company alone makes it problematic.

Clegg agrees with Hughes that Facebook needs more regulation and needs to do a better job - if he thought otherwise, he'd be insane.

In his editorial, Hughes urged the government to break Instagram and WhatsApp away from Facebook and prevent new acquisitions for several years. "He has too much power".

Sen. Josh Hawley has been more specific, and in March said antitrust laws need to be updated specifically to reflect the new tech world and social media landscape.

Sean Parker, the first president of Facebook, said he's a "conscientious objector" to Facebook too. Aside from the fact that Facebook has in reality done a jaw-droppingly bad job of doing everything from safeguarding user data to responding effectively to accusations of complicity in the Myanmar genocide (and its problems with misinformation, fake news, and election meddling remain a gaping maw), this has very little to do with antitrust law itself.

"What keeps happening now is there's another privacy scandal, or another election scandal, seemingly every week, at least every month", Hughes said.

"This argument holds unsafe implications for the American technology sector, the strongest pillar of the economy". Of course, he was referring to Facebook CEO Mark Zuckerberg.

Clegg retread a line that the company's executives have trotted out so many times that it's beyond a cliche: They know they have some work to do.

On Monday, Republican and Democratic US senators criticized reported plans for the settlement, calling on the FTC to impose harsher penalties and more restrictions on Facebook's business practices. After the Cambridge Analytica scandal, Hughes said he started to speak up and had some exchanges with Zuckerberg about the issues.



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