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July 30, 2020 04:45 pm

Top Antitrust Democrat: There's a Case To Break Up Facebook

Rep. David Cicilline (D-R.I.), who ended Wednesday's hearing by saying some Big Tech companies need to be broken up, says that Facebook in particular lacks significant competitors and should not have been allowed to buy Instagram and WhatsApp. From a report: Cicilline chairs the antitrust subcommittee, which has been looking into competition issues in the digital space. "Mr. Zuckerberg acknowledged in this hearing that his acquisition of WhatsApp and Instagram were part of a plan to both buy a competitor and also maintain his money, power, or his dominance. That's classic monopoly behavior," Cicilline said on the "Axios Re:Cap" podcast. Cicilline's criticisms weren't limited to Facebook, pointing to the power Google and Amazon also hold in their respective markets. "I think what we saw today was confirmation that these large technology platforms have enduring monopoly power," he said in the interview with Axios' Dan Primack. A key issue remains whether existing antitrust law is broad enough to address the modern tech industry, especially companies that provide their products at no direct charge to consumers. "Congress is going to have to 'think outside the box' in a comprehensive way about what antitrust laws should look like in the 21st century," Neguse told Axios' Ashley Gold after the hearing.

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