Facebook Not A Monopoly – Mark Zuckerberg
Facebook chief executive Mark Zuckerberg on Tuesday told Congress his company is not a monopoly.
The embattled CEO, who apologised and took responsibility for the massive privacy breach, rejected the suggestion in a Senate hearing that the social media platform, which has over two billion users worldwide, has exclusive control over its market.
“It certainly doesn’t feel like that to me,” he said when asked by Republican Senator Lindsey Graham if he thinks Facebook has a monopoly.
“The average American uses eight different apps to communicate with their friends and stay in touch with people. Ranging from texting apps to e-mail,” he added.
He pointed to Google, Apple, Microsoft and Amazon who all provide some of the services Facebook does.
“My position is not that there should be no regulation,” he told the panel.
“I think the real question as the internet becomes more important in people’s lives is what is the right regulation,” he said.
He expressed his readiness to work with lawmakers to find the right type of regulation that would fit the fast-growing social media industry. He opined that the Europeans, who have tighter rules on companies harvesting and marketing user data, can be emulated.
“I think they get things right,” he said of the Europeans.
