CEO Mark Zuckerberg admits that Facebook copies its competition
At the House Antitrust Subcommittee, Rep Pramila Jayapal questioned CEO Mark Zuckerberg about FB’s strategy of copying its competitors. Also, stating that the firm threatens its competitors to do so as an acquisition tactic. After a continuous fact-based discussion, Zuckerberg was forced to admit to the former allegation while denying the latter one. To which, Jayapal mentioned the firm’s billion-dollar Instagram acquisition, proving FB’s monopoly.