Which companies has Facebook tried to copy
Surprising Zuckerberg confession: That brought the GAFA hearing
Google, Apple, Facebook and Amazon had to face allegations of market dominance and unfair competition to the US Congress. At the congressional hearing, Facebook boss Mark Zuckerberg found it difficult to explain - and made a surprising confession.
Why did Mark Zuckerberg buy Instagram in 2012? The Facebook boss now had to ask himself this question at a digital hearing before the US Congress.
The MPs accused him of practicing unfair competition and striving for market dominance. This is what the US media company reports Buzzfeed.
Zuckerberg had told his CFO at the time in a few emails that by buying Instagram he wanted to take a potential competitor out of circulation and buy time to prepare Facebook for future competitors.
At that time, the e-mails were first sent through the US technology portal and media network The Verge made public.
Congress hearing: Google, Apple, Facebook and Amazon face allegations
Zuckerberg was not the only one who had to take oath to the US Congress. The heads of Google, Apple and Amazon were also invited to the hearing. Due to the corona virus, it took place via video conference and not on site in Washington.
Google, Apple, Facebook and Amazon (GAFA), the four largest technology companies in the world, allowed themselves to be confronted for more than five and a half hours with critical questions and allegations of market dominance and unfair competition.
The international news agency Reuters streamed the full congressional hearing on YouTube. It revolves around the strong market power of corporations, so for Facebook and Co. it was about nothing less than the future. The event served to prepare new regulatory measures.
Mark Zuckerberg bought Instagram to neutralize competition
The case of Mark Zuckerberg and Instagram particularly shows how important such measures are in order to combat competition neutralization.
The Facebook boss admitted that he actually saw Instagram as a strong competitor in 2012. Before the committee, he also added that he did not think back then that Instagram could become as successful in the future as the social network is today.
According to Zuckerberg, Facebook, as the owner, also made a significant contribution to this success. So he tried to talk his way out a little.
Facebook boss has difficulty explaining at congress hearing
However, he didn't get away with that easily. MP Pramila Jayapal cornered the Facebook boss further when she asked, "Are you copying your competitors?"
Zuckerberg then found it difficult to explain and finally admitted: "We have certainly taken over certain functions."
Jayapal also asked him if Facebook had threatened other competitors to copy their features while the company was trying to take them over. Zuckerberg replied that he couldn't remember anything like it.
The MP put the Facebook boss under further pressure and quoted documents according to which one of the Instagram founders is said to have informed an investor with concern that Facebook would “go into a destruction mode” if he did not agree to a purchase.
Facebook and Instagram copy competitors
It is no secret that Facebook and Instagram have been copying competitors for a long time and taking them out of circulation.
Even the popular stories originally came from the pen of Snapchat. Instagram had merely copied them and continued to add functions until Snapchat lost almost all of its popularity.
You also remember that Facebook bought WhatsApp in 2014. The popular messenger, but also constantly criticized for its lack of data protection, is also in Zuckerberg's hands.
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And that's not all. Facebook is currently also planning to take several hundreds of thousands of dollars in hand to recruit the best creators from Tik Tok for Instagram. The emerging video platform is therefore also in danger of losing massive amounts of influencers and thus also of consumers.
It seems that Facebook is apparently not even thinking about resting on its current market power and letting other competitors grow. Instead, the company apparently always keeps an eye on its competitors in order to weaken them as a precaution if necessary.
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