Are Conspiracy Theories Good For Facebook?
Editor's note: This is an excerpt of Planet Money's newsletter. You can sign up here.
Last week, the titans of tech Zoomed into a congressional hearing for a flogging through their computer screens. Members of the House Subcommittee on Antitrust, Commercial and Administrative Law interrogated the CEOs of Amazon, Apple, Google and Facebook over concerns that they're becoming monopolies and abusing their power.
Both Democrats and Republicans directed much of their wrath at Facebook CEO Mark Zuckerberg. Congressional trustbusters blasted him for buying up Instagram and WhatsApp. Acquiring competitors to neutralize them is a classic move in the monopoly playbook. But the lawmakers' gripes with the company went far beyond typical antitrust concerns.
"Facebook is profiting off
You’re reading a preview, subscribe to read more.
Start your free 30 days