MoveOn and other left-leaning groups are petitioning FTC to break up Facebook [CNBC]
Meta Platforms, Inc. - Class A (FB)
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Source: CNBC
A group of left-leaning advocacy groups has launched an initiative to ask the Federal Trade Commission to break up Facebook's major social platforms. Freedom from Facebook is a movement asking the FTC to force Facebook to split its core platform, Instagram, WhatsApp and Messenger into competing networks. The effort is being led by MoveOn, Demand Progress, Sum of Us, MPower Change, Content Creators Coalition, Citizens against Monopoly, Jewish Voice for Peace and Open Markets. Facebook unilaterally decides the news that billions of people around the world see every day, the organization said on its website. It buys up or bankrupts potential competitors to protect its monopoly, killing innovation and choice. A Facebook spokesperson pointed out the Instagram and WhatsApp acquisitions were approved by government regulators. They also noted in a statement Facebook is a competitive environment that allows people to use its free services alongside other companies,
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