Facebook in response to the call to dismantle: We need more regulation and not division
In response to a call by co-founder Chris Hughes to dismantle Facebook, Nick Clegg, vice president of global affairs and corporate communications, published an article in the New York Times criticizing Hughes' argument and reiterating the company's desire for more regulation.
Clegg claimed that Facebook was a large company made up of "many smaller pieces", each of which competed with several competitors and was not dominant in some markets. "He had only 20 percent of the Internet advertising space in the United States, For example".
The former politician also stressed that antitrust law aims to protect customers by ensuring low prices and high quality, not "punishing" a company because of differences or because of its size.
Clegg suggested that there should be more regulations to hold companies accountable and ensure that "rules" are compatible with government values rather than demanding the company be dismantled.
Clegg responded to Hughes' claims that politicians ignored their responsibility to ensure competition, asserting that "Hughes" misinterpreted both Facebook and the competition law objectives.
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