{"id":36779,"date":"2020-07-29T22:34:00","date_gmt":"2020-07-29T19:34:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/mark-zuckerberg-grilled-on-possible-facebook-instagram-breakup\/"},"modified":"2020-07-29T22:34:00","modified_gmt":"2020-07-29T19:34:00","slug":"mark-zuckerberg-grilled-on-possible-facebook-instagram-breakup","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/mark-zuckerberg-grilled-on-possible-facebook-instagram-breakup\/","title":{"rendered":"#Mark Zuckerberg grilled on possible Facebook-Instagram breakup"},"content":{"rendered":"

“#Mark Zuckerberg grilled on possible Facebook<\/a>-Instagram breakup<\/strong>”<\/p>\n

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July 29, 2020 |<\/span> 3:34pm <\/p>\n

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\n \"US-POLITICS-ANTI-TRUST\"<\/img><\/p>\n
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\n Facebook CEO Mark Zuckerberg testifies before the House Judiciary Subcommittee on Antitrust, Commercial and Administrative Law <\/p>\n

GRAEME JENNINGS\/POOL\/AFP via Getty Images\n <\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n \"Hearing<\/img><\/p>\n
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\n Facebook CEO Mark Zuckerberg <\/p>\n

U.S. House Judiciary Committee via REUTERS\n <\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

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\n Up Next\n <\/p>\n
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Lawyers for Ghislaine Maxwell are app<\/a>ealing the release of unseen…
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\n House Democrats on Wednesday told Facebook CEO Mark Zuckerberg that he may have to spin off Instagram to comply with antitrust laws.<\/p>\n

The Federal Trade Commission allowed Facebook to acquire Instagram in 2012, but House Judiciary Committee Chairman Jerrold Nadler (D-NY) said it wasn\u2019t a closed case.<\/p>\n

\u201cMr. Zuckerberg, mergers and acquisitions that buy off potential competitive threats violate the antitrust laws,\u201d Nadler said. \u201cIn your own words, you purchased Instagram to neutralize a competitive threat. If this was an illegal merger at the time of the transaction, why shouldn\u2019t Instagram now be broken off into a separate company?\u201d<\/p>\n

Nadler cited Zuckerberg\u2019s remarks that the photo platform was a competitor, though the CEO insisted he only viewed Instagram as a photo-sharing competitor at the time, not as a potential rival for social networking.<\/p>\n

\u201cAt the time, almost no one thought of them as a general<\/a> social network,\u201d Zuckerberg said.<\/p>\n

But according to Nadler, \u201cthe documents you provided tell a very disturbing story. And that story is that Facebook saw Instagram as a powerful threat that could siphon business away from Facebook.\u201d<\/p>\n

Nadler said, \u201cyou told your CFO that though nascent, Instagram could be very disruptive to us. And in the weeks leading up to the deal, you described Instagram as a threat, saying that \u2018Instagram can meaningfully hurt us without becoming a huge business\u2019.\u201d<\/p>\n

The merger \u201cshould never have been permitted to happen, and it cannot happen again,\u201d Nadler said.<\/p>\n

Rep. David Cicilline (D-RI) agreed with Nadler, adding, \u201cThe failures of the FTC in 2012 of course do not alleviate the antitrust challenges that [Nadler] described.\u201d<\/p>\n

Zuckerberg said the criticism was unfairly premised on the present-day success of Instagram.<\/p>\n

\u201cIt was not a guarantee that Instagram was going to succeed. The acquisition has done wildly well, largely because not just of the founders\u2019 talent, but because we invested heavily in building up the infrastructure and promoting it,\u201d he said.\n <\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

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If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Mark Zuckerberg grilled on possible Facebook-Instagram breakup” July 29, 2020 | 3:34pm Facebook CEO Mark Zuckerberg testifies before the House Judiciary Subcommittee on Antitrust, Commercial and Administrative Law GRAEME JENNINGS\/POOL\/AFP via Getty Images Facebook CEO Mark Zuckerberg U.S. House Judiciary Committee via REUTERS Up Next Lawyers for Ghislaine Maxwell are appealing the release of unseen……<\/p>\n","protected":false},"author":1,"featured_media":36780,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[45934],"class_list":["post-36779","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-mark-zuckerberg-grilled-on-possible-facebook-instagram-breakup"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/36779","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=36779"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/36779\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/36780"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=36779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=36779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=36779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}