Facebook CEO Mark Zuckerberg tech antitrust hearing

Facebook CEO Mark Zuckerberg pointed to the success of rivals like Apple, Google, and TikTok as evidence that there’s plenty of competition in the tech industry.
Zuckerberg referenced Apple’s iMessage, Google’s YouTube, and the popular video app TikTok in his opening remarks, pointing to their size and dominance in various industries.
During the hearing, lawmakers grilled Zuckerberg about Facebook’s acquisition of Instagram.
While Zuckerberg framed big tech companies as its main competition, questions have also been raised about whether Facebook is also competing with news outlets as more people are turning to social media for news.
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Facebook CEO Mark Zuckerberg began Wednesday’s unprecedented antitrust hearing by pointing to the success of rivals like Apple, Google, and TikTok as part of an argument that competition is alive and well in the tech industry.

“The most popular messaging service in the US is iMessage,” Zuckerberg said in his opening remarks, referring to Apple’s texting service. “The fastest-growing app is TikTok. The most popular app for video is YouTube. The fastest growing ads platform is Amazon. The largest ads platform is Google. And for every dollar spent on advertising in the US, less than 10 cents is spent with us.”

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Source:: Businessinsider – Politics


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