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An Ugly Truth: Inside Facebook's Battle for Domination
by Sheera Frenkel
New York State Attorney General Letitia James, whose office coordinated the bipartisan coalition of forty-eight attorneys general, held a press conference in which she laid out the case, the strongest government offensive against a company since the breakup of AT&T in 1984.1 What she claimed amounted to a sweeping indictment of Facebook’s entire history—and specifically of its leaders, Mark Zuckerberg and Sheryl Sandberg.
“It tells a story from the beginning, the creation of Facebook at Harvard University,” James said. For years, Facebook had exercised a merciless “buy-or-bury” strategy to kill off competitors. The result was the creation of a powerful monopoly that wreaked broad damage. It abused the privacy of its users and spurred an epidemic of toxic and harmful content reaching three billion people. “By using its vast troves of data and money, Facebook has squashed or hindered what the company perceived as potential threats,” James said. “They’ve reduced choices for consumers, they stifled innovation and they degraded privacy protections for millions of Americans.”
“It tells a story from the beginning, the creation of Facebook at Harvard University,” James said. For years, Facebook had exercised a merciless “buy-or-bury” strategy to kill off competitors. The result was the creation of a powerful monopoly that wreaked broad damage. It abused the privacy of its users and spurred an epidemic of toxic and harmful content reaching three billion people. “By using its vast troves of data and money, Facebook has squashed or hindered what the company perceived as potential threats,” James said. “They’ve reduced choices for consumers, they stifled innovation and they degraded privacy protections for millions of Americans.”