Everyone blubbering about Facebook, Google and others being the all powerful corporations that want to control our lives.....I heard the same thing in the late 90’s and early 2000’s about Microsoft. Before that it was AOL. Before that, IBM.
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Who has the monopoly? Facebook? Google? Amazon? Twitter? Snapchat? Grocery stores?
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Google monopoly over search. Facebook & Google duopoly over online advertising. Amazon is getting there with retail. Not saying antitrust is necessarily the right response. But the numbers show their level of market domination is comparable to Standard Oil, AT&T, etc.
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But it's an apples and oranges comparison. Standard Oil held something like 90 percent of production and 85 percent of sales. Choices were limited. That's not the case with Google or Facebook.
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