One of the co-founders of Facebook has called for the social media behemoth to be broken up, warning that the company's head, Mark Zuckerberg, had become far too powerful.
Debate has begun on a federal privacy protection bill. The founders of Instagram and WhatsApp have left, as has the executive who took over WhatsApp a year ago. Hughes's opinion piece is part of the Privacy Project in the New York Times, although it's as much a cautionary tale about the future of commerce and democracy as it is a riff on Zuckerberg's invasive approach to your digital life.
He later cited "artistic differences" with Zuckerberg as his reason for leaving, without elaborating.More news: Mavericks' Kristaps Porzingis Bloodied After Altercation with Fans
The company has been rocked by a series of scandals recently, including allowing its users' data to be harvested by research companies and its slow response to Russian Federation using Facebook as a means to spread disinformation during the 2016 United States election campaign.
Despite its scandals, the company's core business has proven resilient. Facebook has blown past earnings estimates in the past two quarters and its stock price barely budged in response to Hughes' opinion piece.
"The government must hold Mark accountable".
"Even after a breakup, Facebook would be a hugely profitable business with billions to invest in new technologies - and a more competitive market would only encourage those investments", he said.
Senator Elizabeth Warren, who is seeking the Democratic nomination for the 2020 presidential election, has vowed here to break up Facebook, Amazon.com Inc and Alphabet Inc's Google if elected.More news: Farrakhan says he doesn’t hate Jewish people
As a result, the social media space of today has no meaningful challengers to Facebook and, no matter how much public outrage Facebook's malpractice (data leak, election meddling, etc.) has sparked, its two billion regular users have no alternative social networking services to turn to. They've bulldozed competition, used our private info for profit, hurt small businesses & stifled innovation.
Representative Ro Khanna, a California Democrat, said in a statement he agreed in retrospect that USA regulators should not have approved Facebook's acquisition of Instagram and WhatsApp.
The company has faced a torrent of criticism over the past year, particularly after the Cambridge Analytica episode embroiled the company in a privacy scandal that left the data of 87m users exposed.
Facebook is reportedly expecting to face a fine of $5 billion.
Hughes said that he remained friends with Zuckerberg, noting that "he's human". His diagnosis of the social media giant is simple: Facebook is too risky of a monopoly and Zuckerberg is too powerful of a boss-despite the fact that he's a kind person with all but good intentions. But I'm angry that his focus on growth led him to sacrifice security and civility for clicks.More news: These Huawei and Honor smartphones are getting Android Q very soon
"I think this argument is too important. Would love to chat about it if you're open", Mosseri said.