Facebook Is a Monopoly — Here’s Why That Matters
Teen VogueOct 20, 2021
Meta, Facebook’s parent company, Monday asked a London tribunal to block a collective lawsuit worth up to $3.7B ($3B pounds) over allegations the company abused its market dominance to monetize users’ personal data.
The case, which was brought by legal academic Liza Lovdahl Gormsen, seeks compensation for users who were not properly compensated for the value of personal data they provided to Facebook.
Facebook is a predatory monopoly that brings negative consequences for its users and society at large. Facebook obtains user data in ways that are not transparent, and then it uses that data to become the biggest marketing force in the world. With billions of daily users, Facebook is too big and must be reined in.
Facebook is being unfairly attacked by regulators and being bombarded by frivolous lawsuits. Facebook is not a monopoly and has no monopolistic power. The platform constantly works to improve and innovate because of its competition. Attempts to frame Facebook as a "robber baron" company are fallacious.