For a while now, Meta has been in the limelight. The company really played its cards right when it decided to acquire leading apps like Instagram and WhatsApp. And without many people realizing it, it quickly turned into a monopoly, holding a powerful position in the tech industry.
Indirectly, it managed to eliminate all forms of competition because it had a number of apps under its wing that many consider being the best and most popular ones around the globe.
While the FTC approved the acquisition of Meta, it failed to realize that it would soon be setting the tech world up for a disaster as the company buries competitors and blocks rivals from putting forward the best products out there.
Better late than never, the company is being scrutinized now. The FTC has finally woken up and a new lawsuit of anti-trust behavior has made its way to the firm.
The FTC says Meta needs to stop behaving like a monopoly and it wants the firm to break up again instead of function as one giant leader in the industry that houses the world’s top applications. But that’s only if Meta fails at proving its innocence.
The FTC knows it has indirectly done a lot of damage to the tech industry and they want to revert back into time and make changes. So to get things in action, both sides have subpoenaed a number of competitors to the company. They are each gathering as much data as they can that prove to the court of law that each of them is correct.
As far as the FTC is concerned, the body wants to show how negatively Meta behaves and how it’s taking a toll on competitors. With 132 subpoenas being conducted lately, Meta has no plans of giving up. It is doing everything in its power to get rid of this lawsuit and come out stronger in the end.
And for that, they need to attain confidential secrets from top archrivals. See, the goal isn’t to leverage knowledge to increase its share in today’s competitive market. They need to prove to the court that other firms still have what it takes to compete with the tech giant.
Getting more background knowledge from top apps is the way to go and so far, Meta has questioned firms such as Pinterest, Snap, TikTok, Reddit, and Twitter. But so many more are lined up.
Meta wants to know their top secrets like which features are performing the best and who are their top advertisers. How are these firms measuring success and which products are really engaging more with audiences?
But as you can probably imagine, not a lot of people are willing to help in this respect. And it has until January 2024 to get this investigation done and dusted with.
The news was not taken too well by Snap and a number of other rival companies. Nobody likes such intrusive behavior because it’s trade secrets that you’d never wish to share with your competitors.
Since the only competitor named so far by the FTC in their anti-trust litigation document was Snap, well, this app is also coming out to be Meta’s most vocal rival. They were recently caught mentioning how it’s not ok for Meta to want information on every single one of its products and every aspect of its business model.
Meta defended the claims by mentioning how the same information and questions were asked by the FTC to Snap. But Snap justified the statement by saying that they weren’t as intrusive or demanding as Meta.
The biggest problem Snap has is related to Meta copying its products and features, which the firm has a history of doing. Therefore, they’re more than reluctant and it makes sense.
Read next: Meta Is Merging Its Business Integrity Unit With Its Central Integrity Team, Confirms New Memo
Indirectly, it managed to eliminate all forms of competition because it had a number of apps under its wing that many consider being the best and most popular ones around the globe.
While the FTC approved the acquisition of Meta, it failed to realize that it would soon be setting the tech world up for a disaster as the company buries competitors and blocks rivals from putting forward the best products out there.
Better late than never, the company is being scrutinized now. The FTC has finally woken up and a new lawsuit of anti-trust behavior has made its way to the firm.
The FTC says Meta needs to stop behaving like a monopoly and it wants the firm to break up again instead of function as one giant leader in the industry that houses the world’s top applications. But that’s only if Meta fails at proving its innocence.
The FTC knows it has indirectly done a lot of damage to the tech industry and they want to revert back into time and make changes. So to get things in action, both sides have subpoenaed a number of competitors to the company. They are each gathering as much data as they can that prove to the court of law that each of them is correct.
As far as the FTC is concerned, the body wants to show how negatively Meta behaves and how it’s taking a toll on competitors. With 132 subpoenas being conducted lately, Meta has no plans of giving up. It is doing everything in its power to get rid of this lawsuit and come out stronger in the end.
And for that, they need to attain confidential secrets from top archrivals. See, the goal isn’t to leverage knowledge to increase its share in today’s competitive market. They need to prove to the court that other firms still have what it takes to compete with the tech giant.
Getting more background knowledge from top apps is the way to go and so far, Meta has questioned firms such as Pinterest, Snap, TikTok, Reddit, and Twitter. But so many more are lined up.
Meta wants to know their top secrets like which features are performing the best and who are their top advertisers. How are these firms measuring success and which products are really engaging more with audiences?
But as you can probably imagine, not a lot of people are willing to help in this respect. And it has until January 2024 to get this investigation done and dusted with.
The news was not taken too well by Snap and a number of other rival companies. Nobody likes such intrusive behavior because it’s trade secrets that you’d never wish to share with your competitors.
Since the only competitor named so far by the FTC in their anti-trust litigation document was Snap, well, this app is also coming out to be Meta’s most vocal rival. They were recently caught mentioning how it’s not ok for Meta to want information on every single one of its products and every aspect of its business model.
Meta defended the claims by mentioning how the same information and questions were asked by the FTC to Snap. But Snap justified the statement by saying that they weren’t as intrusive or demanding as Meta.
The biggest problem Snap has is related to Meta copying its products and features, which the firm has a history of doing. Therefore, they’re more than reluctant and it makes sense.
Read next: Meta Is Merging Its Business Integrity Unit With Its Central Integrity Team, Confirms New Memo