May 23, 2018 – Written By Dominik Bosnjak European Parliament members on Tuesday signaled they consider Facebook a monopoly and are exploring the idea of breaking it up, with CEO Mark Zuckerberg insisting the world’s largest social media network still exists in “a very competitive space.” German liberal Manfred Weber said “it’s time to discuss breaking up Facebook’s monopoly because it’s [sic] already too much power in only one hand,” having asked Mr. Zuckerberg whether he can convince him not to do so. The 34-year-old hasn’t responded to that question, with the format of the meeting seeing him accept back-to-back inquiries for over an hour before he started addressing them by “broader themes” — as he himself put it — for some 20 minutes.Belgian liberal Guy Verhofstadt asked whether Facebook would be willing to completely open its books and help European investigators determine if its business constitutes a monopoly, having framed his inquiry as a yes-or-no question which Mr. Zuckerberg didn’t address either. While speaking on the subject of competition, the multi-billionaire said Facebook needs to evolve on a daily basis so as to “stay relevant” and continue serving users in an optimal manner. “From where I sit, it feels like there are new… Read full this story
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