October 13, 2019

Facebook Isn't a Monopoly

“I’m chief executive officer of a social network that competes with Facebook , so you might expect I’d agree with those seeking to break up Facebook in the name of fair competition. In fact, I strongly oppose the idea. I don’t believe Facebook is a monopoly.

Regulatory officials, presidential candidates and even a Facebook co-founder are among those who’ve asserted that Facebook has become so big and powerful that it stifles all competitors, leaving social-media users nowhere else to turn. Yet my company, MeWe, is not only surviving but thriving. The free market is alive and kicking.

One reason Facebook is vulnerable to competition is that its business practices are off-putting to social-media users. According to a 2018 Pew survey, 44% of users 18 to 29 deleted Facebook the prior year. As I’ve often said, Facebook is a data company masquerading as a social network. Facebook’s business is based on harvesting data from its users, both on the site and off, then charging advertisers to target them.

In contrast, MeWe is a full-featured social network engineered with privacy-by-design that’s freemium-based with no ads, targeting or newsfeed manipulation. Marketers and election meddlers cannot target or boost anything to anyone. These are significant competitive differentiations.”

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