Great way to send shockwaves through the M&A space with governing incompetence: rather than pass reasonable legislation and/or empower an existing department, just have a political theater of a committee process which selectively picks those who haven't lobbied enough _not_ to get in front of that committee.
mmmmm, no looks like the legislative branch is reviewing what the executive branch does at all, thats whats supposed to happen.
The government botches numerous regulatory decisions. And Facebook is a monopoly that buys or copies (thus kills) their competitors.
And yet competitors e.g. Snapchat, TikTok, HouseParty, Telegram, Line continue to appear and flourish.
I think it's clear at this point that Facebook will continue to lose their social dominance, so long as they're prevented from acquiring any major competitors. Their old-line social network will likely remain as a foundation that everyone joins, because so many people are on it. New networks will keep popping up for the same reason TikTok did, young people hate being where old people are, where their parents and teachers are. That cycle will perpetually repeat (in 15 years TikTok 'dancing' videos will be viewed as laughably cringy by young people, like 1980s big hair and fashion trends were 15 years later). All that's necessary is to prevent Facebook from buying the new networks as they pop up.
Instagram might even manage to kill itself trying to be too many things as it clones competitors, turning itself into the F35 of social networks.
>young people hate being where old people are, where their parents and teachers are.
Yes, because let's make large business decisions and technology investments on what 10-12 year olds like.