Quote (NetflixAdaptationWidow @ Oct 5 2023 02:55pm)
In what way are these companies monopolies?
Twitter, Facebook, Tiktok, Reddit, and Instagram all directly compete with each other in the same space for attention and advertisers.
YouTube barely makes a profit and has major competition in TikTok and Twitch and has minor competition in Dailymotion, Vimeo, etc. etc.
So if you want to break up these by calling them a monopoly, you're going to have to pretty drastically rewrite what constitutes a monopoly.
So how would you define monopoly in the law in order to make that change?
Youtube controls something like 97% of its market. A handful of social media companies control virtually 100% of their public forum at large.
Its pretty easy to define what is a monopoly by looking at cases like this guy, who monetize their content: Something that is not financially viable on anything but a small handful of monopolies. If someone is arbitrarily banned from youtube, where are they going to go stream? Do you realize how absurdly overwhelming the monopoly youtube has right now is? Twitch doesn't even register as a tiny fraction of a percentage by comparison.
These tech companies are obvious and undeniable monopolies, and its incumbent on the government to break them up to ensure competition, fair business practices and stoke innovation.