Name: Facebook Is 'Too Big.' Facebook Co-Founder Chris Hughes Tells Us Why | NYT Opinion
Uploaded: 2020-03-25T02:41:08.000Z
Duration: 5 min 23 s
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I think Facebook has grown too big and too powerful.

about privacy violations, election interference

I haven’t been at the company in over a decade,

Americans have the  power to right the ship

tell a classic American story of innovation

and entrepreneurship. From our college dorm room,

we started a little social network for our friends

that exploded in popularity and connected the world.

made it possible for Facebook to dominate our rivals

like Friendster, MySpace, Tumblr and many others.

This is how it’s supposed to work in America. Hard work

You start a small business and compete on the merits

Today, nearly three billion  people use Facebook,

Instagram, and WhatsApp,  and they’re all

owned and controlled by the same company.

Of every dollar spent buying ads on social media,

It’s now worth over half a trillion dollars.

That’s roughly the size of the G.D.P. of the bottom 65

It’s not just that Facebook is a really big social network.

When a single company  dominates any market,

they become susceptible to abusing their power.

Social networking is like most other American industries.

There used to be plenty of healthy competition.

Companies often create an illusion of choice.

You think there are hundreds of beer brands out there,

but they’re all made by one or two companies.

leads to things like poor privacy practices, enabling

the spread of violent rhetoric, fake news and the unbounded

drive to capture more of our data and attention.

I often hear people say, “I’m shutting down my

Thank God for Instagram,” not realizing

When companies become empires, people are stripped of power.

Facebook’s employees write complex rules

called algorithms that decide what you see in your News Feed.

Facebook can decide what messages get delivered

Even Mark himself has said that he and the Facebook team

But Mark owns the majority of the shares.

there are no checks and balances on Facebook.

Mark has no boss, and he cannot be fired.

Listen, it’d be great if Mark can fix this himself.

We need the government to intervene with two steps.

America’s regulated  corporate empires before,

This isn’t unprecedented and surprisingly,

it often boosts the value of these companies

force Facebook to unwind its acquisitions of WhatsApp

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Facebook Is 'Too Big.' Facebook Co-Founder Chris Hughes Tells Us Why | NYT Opinion

susceptible

illusion

obsession

guarantee