3: Facebook's Monopoly is Being Challenged

As of September 6th, several states are starting antitrust investigations against Facebook. According to a CNN article, the states want to look at the impact Facebook has on "advertising prices, data and consumer privacy and the company's previous acquisitions, including Instagram and WhatsApp." The hope of the investigation is to determine the effects that Facebook's actions have on consumer data, the quality of choices for consumers, and the price of advertising. Amazon, Apple, and Google are expected to be targeted with similar investigations to evaluate "Silicon Valley's biggest players" and the effect they have on their competition, which ultimately also effects consumers. At a conference in June, Herbert Slatery III (attorney general of Tennessee) said that "structural change driven by the government may well be necessary" to deal with the industry of technology and its potential downfalls. Representatives from other states have also spoken out with similar notions. The concern of many people speaking out is that Facebook, as well as the other companies previously mentioned, holds too much power in its respective field. All of these companies are at the top of their industry, and they do not have much close competition. Being in a position like this allows them to control factors that they would not if their competition was more balanced. This is concerning for consumers as well as businesses. If these companies are so powerful, they can easily begin to shape advertising and consumer awareness. While this is a possibility, it does not guarantee the course of action that these companies will take. Facebook seems to want to cooperate with policymakers and work together to solve any issues. This situation could turn out to be much less troublesome than the term "antitrust investigation" makes it appear.