The esteemed Columbia Law professor who coined the term "net neutrality" urged the government to dissolve Facebook, Google, Amazon before they take control of the entire economy. Tim Wu says technology giants are facing little competition and are acquiring more and more companies. He says that the only way to control them is to sue them for breaking the antitrust laws in an attempt to create more loyal competition. Antitrust laws regulate the conduct of commercial companies to keep them honest and fair and end the monopolies. Industry giants such as Facebook, Amazon and Google affect almost every aspect of our daily lives from our politics to privacy and are becoming increasingly powerful when they buy more goods and competitors are forced out. Wu says that Facebook should be the first to go as the social network has become huge and has shrouded in privacy scandals.
Columbia Law professor Tim Wu says it's time to dissolve Facebook, Amazon and Google before they control the entire economy and can only be done with a lawsuit that calls for antitrust laws. Wu in the picture on the left, the famous founder of Facebok Mark Zuckerberg in the right pictureFacebook does not face any serious competition, cites a huge amount of private data, treats advertisers in an unruly way, has distorted politics and has become a place in which extremists gather, says Wu. The Justice Department of the Federal Trade Commission or state could state that the Facebook acquisitions of WhatsApp in 2014 and Instagram in 2012 were illegal and were anti-competitive mergers.
He reveals in his book The Curse of Bigness that it was released next week that the only way to control the growth and expansion of Facebook, Amazon and Google is with an antitrust case. The lawsuit should ask the court to break the social network or dissolve it, he says in his book The Curse of Bigness, which will be released next week. Wu wants the United States to invoke its antitrust law with the Zuckerberg network. Antitrust laws have been used on IBM, AT & T and Microsoft in the past. "The book is the most worrying, I would like to break Facebook – social harm is clear, and the benefits of Facebook as an entity are not clear," he told Vox. "They are too big to fail, it's too big to be tolerated," he added. He said lawmakers and lawmakers made a mistake when they let Facebook buy Instagram – but with the Silicon Valley boom and the fact that social networks do not charge their products, they had no idea what it really meant to do. ;purchase. "was in the government [at the time]I share the guilt in part. I think at the time there was a sort of deferential attitude towards Silicon Valley, you know, they were gold. They had reinvented the economy, reinvented the business as we knew it, "Wu said. "When Facebook bought Instagram, no one ever said" Oh, they're just buying their biggest competitor "- and it's illegal to buy your most dangerous competitors." People said, "Oh, they do not charge anything, we do not really understand how it works, "he added," What is an antitrust law? "Antitrust laws are a set of federal and state regulations designed to ensure that companies operate honestly and loyally, trying to level the playing field and preventing companies from having too many powers. Some cases of antitrust law include IBM, Microsoft and AT & TIn the mid-1960s IBM has been sued for violating the antitrust laws and monopolized the computer marketThe lawsuit has been dragged for 13 years without any verdict, but the pressure on the company has allowed competition like Apple and Microsoft to rise In 2001 Microsoft was accused of holding a monopoly on Intel-based computers. ro to divide into two units, one for the operating system and another for the software. In 1974 AT & T was sued to monopolize the telecommunications market. Seven years later it was ordered to be divided into seven different companies responsible for different regions of the country. Then, when Facebook bought WhatsApp for an incredible $ 19 billion, it became clear that the social network was buying advertising competition. Wu says that WhatsApp and Facebook were chasing the same advertisers and that having a monopoly profit would benefit the Zuckerberg company eventually. He said regulators and the public should be careful about Amazon and Google later. "There was also a little chat on Amazon that goes into the game of ads, and it's taking a piece of that cake, and Google also depends on Amazon Web Services for a lot of things. Like, they should be scarier, "he said. "When it comes to Amazon and Google, it's about" What will not they do? What will not they try to hire? "… Do you really want an economy where you have a small handful of companies, maybe even two companies, that manage everything?" He added. He said that General Motors is an example of an example of a giant company that once managed everything, until it lost Japan's competition. Wu says that breaking the popular society could improve privacy even in the case of Facebook. He says that two Facebook founders have recently separated from the technology giant for Facebook privacy practices.
The way to break these giants is with an antitrust case led by the Justice Department, the Federal Trade Commission or a state. Wu warns that Facebook should be addressed before the Amazon company of Jeff Bezos. Bezos in the photo above
Wu said: "When it comes to Amazon and Google, it's about" What will not they do? What will not they try to tackle? "… Do you really want an economy run by two companies?" He warns that the nation should follow its lessons from the past as the United States goes through their second "Golden Age", adding "it's time to" check the economic structure before we control. "I'm afraid that we'll end up [just] Google and Amazon, if we let them stay around for 40 years; if we do not mix the plate the way we mixed it with IBM, I think we'll pay it, "he said, IBM's antitrust case spans 13 years under the Reagan administration and ultimately did not get a verdict, but he pressured the company that boasted the dominant market share in the mid-1960s. He says that without that IBM case, competition like Apple and Microsoft would not have been able to increase, and it's not just technology giants that have to be broken Wu says that even the pharmaceutical industry, cable TV, beer and fertilizer industries must be demolished.