Former Senator Al Franken says Facebook has gotten too big
Former Senator Al Franken says Facebook has gotten too big
3:23

Former Senator Al Franken says Facebook has gotten too big

Tech Industry
Last year Facebook made $9.3 billion in the second quarter, with 98% of that coming from the advertising business. Google made 26 billion, for the same quarter, with 87% of that coming from advertising. [MUSIC] These companies aren't just advertisers, they are the worlds biggest online ad companies. Facebook and Google have a combined 60 to 70% share of the digital advertising market, a strong duopoly. To build and maintain this strong dominant position in the market, Both companies have engaged in a wide range of behaviors, some of which appears pretty routine, but may have long consequences for users, innovation, and our democracy. In the past decade, Facebook has developed a pattern of buying up innovative startups To expand its data collection capabilities and eliminate potential competition. They also ripped off their rivals ideas when acquisitions weren't possible. A few years ago Facebook wanted to buy Snapchat, which was gaining popularity. Snapchat repeatedly turned them down So instead Facebook simply clone Snapchat most recognizable feature by adding a stories function to Instagram which already owned, pretty soon Snapchat users and advertisers jumping ship. The big time tech investors have notice too Soon after Facebook launched its stories function. The Washington Post interviewed a dozen top venture capitalist, who recorded the one of the first questions to ask when hearing pictures from app lunch [UNKNOWN] is how easy it would be for Facebook to copy the idea. A partner in a top US investment, Ferguson said, quote, we don't touch anything that comes too close to Facebook, Google or Amazon, which is to say we don't think our companies should fly too close to the sun. As Facebook and Google. Have gotten bigger and bigger. They've lost all incentive to act in their users' best interests because, well, their users have nowhere else to go. Facebook has acquired its competitors and integrated itself into so many aspects of our lives that the company has made it nearly impossible for users to leave. I'm sure many of you watched the Zuckerberg hearings. The part that stuck out to me was Lindsey Graham, a Republican of South Carolina, Senator Graham, asked Mark Zuckerberg a simple but very smart question. Who is your biggest competitor? And Zuckerberg couldn't really answer. Facebook doesn't have to care about the privacy and security of their users' online information because there's no mass exodus when it violates those values. They have no real Competitors in the eyes of users who don't feel that they can walk away. And that means users have no defence. [SOUND]

Up Next

Neuralink Is Trying To Reanimate Body Parts
neuralink2022-explainer-v1

Up Next

Neuralink Is Trying To Reanimate Body Parts

Watch Everything Revealed at Neuralink's 2022 Show and Tell Event
thumb1

Watch Everything Revealed at Neuralink's 2022 Show and Tell Event

Elon Musk Shows Latest Neuralink Demo of Monkey Typing with its Mind
neuralmonkey

Elon Musk Shows Latest Neuralink Demo of Monkey Typing with its Mind

How Tyler 'Ninja' Blevins Became a Millionaire Playing Video Games
streamer-and-gamer

How Tyler 'Ninja' Blevins Became a Millionaire Playing Video Games

How NASA Captured the First Artemis Moon Images with Hacked GoPro Cameras
artemis-moon-th-clean

How NASA Captured the First Artemis Moon Images with Hacked GoPro Cameras

Artemis I Launch Explained: NASA's Historic Slingshot Around the Moon
artemis-launch

Artemis I Launch Explained: NASA's Historic Slingshot Around the Moon

NASA Launches Artemis I Rocket to the Moon
artemis-cnet

NASA Launches Artemis I Rocket to the Moon

SpaceX's Falcon Heavy Rocket Lifts Off
falcon-heavy-launch-th-cms

SpaceX's Falcon Heavy Rocket Lifts Off

I Swam With a Deep-Sea Robot Designed to Outlast Humans
oceanonekthumb

I Swam With a Deep-Sea Robot Designed to Outlast Humans

Tech Shows

The Apple Core
apple-core-w

The Apple Core

Alphabet City
alphabet-city-w

Alphabet City

CNET Top 5
cnet-top-5-w

CNET Top 5

The Daily Charge
dc-site-1color-logo.png

The Daily Charge

What the Future
what-the-future-w

What the Future

Tech Today
tech-today-w

Tech Today

Latest News All latest news

See Why the Semi May Be Tesla's Most Important Vehicle
tesla-semi-00-02-40-12-still001

See Why the Semi May Be Tesla's Most Important Vehicle

How to Create Holiday Greeting Cards Using Keynote
ipadgreetingcard-site-thumb

How to Create Holiday Greeting Cards Using Keynote

Watch Elon Musk's SEMI Event in 9 Minutes
tesla-sb-v1-00-00-02-01-still001.png

Watch Elon Musk's SEMI Event in 9 Minutes

Fun Amazon Finds Under $100 for December 2022
p1050770-00-13-52-12-still004

Fun Amazon Finds Under $100 for December 2022

Neuralink Is Trying To Reanimate Body Parts
neuralink2022-explainer-v1

Neuralink Is Trying To Reanimate Body Parts

Watch Everything Revealed at Neuralink's 2022 Show and Tell Event
thumb1

Watch Everything Revealed at Neuralink's 2022 Show and Tell Event

Most Popular All most popular

Elon Musk Shows Latest Neuralink Demo of Monkey Typing with its Mind
neuralmonkey

Elon Musk Shows Latest Neuralink Demo of Monkey Typing with its Mind

Watch Elon Musk's SEMI Event in 9 Minutes
tesla-sb-v1-00-00-02-01-still001.png

Watch Elon Musk's SEMI Event in 9 Minutes

EVs vs. Gas Engines: We Do the Math on Carbon Emissions
evs-exposed-still

EVs vs. Gas Engines: We Do the Math on Carbon Emissions

2022 Ford Bronco Raptor: This Big Bronco Is Here
ford-bronco-raptor-still-v1

2022 Ford Bronco Raptor: This Big Bronco Is Here

Fun Amazon Finds Under $100 for December 2022
p1050770-00-13-52-12-still004

Fun Amazon Finds Under $100 for December 2022

Neuralink Is Trying To Reanimate Body Parts
neuralink2022-explainer-v1

Neuralink Is Trying To Reanimate Body Parts

Latest Products All latest products

See Why the Semi May Be Tesla's Most Important Vehicle
tesla-semi-00-02-40-12-still001

See Why the Semi May Be Tesla's Most Important Vehicle

First Look at Archer's Midnight Air Taxi
midnight

First Look at Archer's Midnight Air Taxi

Holoride Hands-On: VR in the Car Is Like a Disney Ride
holoride-00-00-03-12-still003

Holoride Hands-On: VR in the Car Is Like a Disney Ride

Hands-on With All of Microsoft's New Surface Devices
surfacepro9-event-00-00-04-05-still004

Hands-on With All of Microsoft's New Surface Devices

Microsoft Introduces Surface Studio 2 Plus
surfacestudio

Microsoft Introduces Surface Studio 2 Plus

I Used Meta Quest Pro: Here's What It's Like
questpro-00-03-30-13-still004

I Used Meta Quest Pro: Here's What It's Like

Latest How To All how to videos

MacOS Ventura Continuity Camera Turns Your iPhone Into a Webcam
1203246975312353-pnmdl8bwygpxcjffhlcf-height640.png

MacOS Ventura Continuity Camera Turns Your iPhone Into a Webcam

How to Clean Your Keyboard's Sticky Keys
3keyboards

How to Clean Your Keyboard's Sticky Keys

How to Play Games from PlayStation Plus on PC
psstill

How to Play Games from PlayStation Plus on PC

How to Delete or Disable Your Instagram Account
phoneonorange

How to Delete or Disable Your Instagram Account

Fix Your iPhone Screen With Apple's Self-Service Repair Kit
dsc00641

Fix Your iPhone Screen With Apple's Self-Service Repair Kit

How to Buy a Budget Laptop in 2022
budgetlaptops-00-08-35-15-still001

How to Buy a Budget Laptop in 2022