Facebook Accused Of Illegally Conspiring With Google

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Facebook Accused Of Illegally Conspiring With Google
<a href="https://pixabay.com/users/Simon/">Simon</a> / Pixabay

Legal Pressure Builds on Facebook as States File Charges of Collusion with Google

The People are fed up with data pillaging and abuse

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Facebook Conspiring With Google To Prevent Competition

Henderson, NV – Tech Oligarchs Facebook, Google and Twitter have come under increasing legal pressure and public scrutiny as regulators and prosecutors in multiple jurisdictions have pursued a series of legal claims and administrative investigations.

Thursday, Texas Attorney General Ken Paxton filed a lawsuit on behalf of a coalition of ten states accusing Facebook of illegally conspiring with Google to prevent competition in the online advertising industry. If the allegations are true, it is likely that the arrangement drove up prices and hurt consumers.

The news comes on the heels of other significant actions. The Federal Trade Commission (FTC) and a bi-partisan coalition of States filed separate anti-trust lawsuits in Federal Court, alleging Facebook is an illegal monopoly. And in the meantime, the FTC ordered Facebook, Twitter, and TikTok to produce information on their data mining practices, as part of an ongoing investigation.

Data-Mining-Related Legal Problems

Facebook’s data-mining-related legal problems are not confined to the United States. The Australian government has filed a suit alleging deceptive and abusive data practices, and Ireland’s Data Protection Commission is expected soon to announce sanctions against Facebook subsidiary Instagram. The Commission also fined Twitter on Tuesday.

With respect to Facebook’s legal woes, Parler CEO John Matze commented: People are finally becoming aware of Facebook’s pattern of abusive and deceptive practices, and it’s not surprising that governments at all levels, worldwide, are responding to their consumers’ mounting outrage. Still,” he continued, “Parler neither endorses these steps, nor do we take a position on their merits.

Instead, we encourage the traditional American approach of competing on a free market as the best answer to data-pillaging tech oligarchs. The fact that Apple is currently cramping their style with its Nutrition Label program shows that there are abundant non-governmental solutions available. Parler is one of these solutions. We do not mine, store, or sell personal data, and our unique monetization model empowers content creators to build value from their following and goodwill. We invite everyone to explore our growing community of more than 12 million people.”

 

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Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver

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