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Thread: Facebook and Amazon Tumble After FTC Opens Competition Probe

  1. #1

    Facebook and Amazon Tumble After FTC Opens Competition Probe

    The Trump Administration's long-anticipated anti-trust War on Silicon Valley is starting to look more like a blitzkrieg.
    After WSJ opened the floodgates by quietly publishing the first report, about an anti-trust probe into Google, late Friday night, reports exposing new details about the anti-monopoly push, which will also encompass Amazon and, now, Facebook, have been dropping like bombs on the market.
    According to WSJ's latest revelation, published around midday New York City time on Monday, the FTC is taking the lead on an anti-trust investigation into Facebook.
    The report sent Facebook shares down 9% in midday trade, wiping $6 billion off CEO Mark Zuckerberg's net worth in minutes, showing just how seriously the market is taking the risk that the Trump Administration could do Elizabeth Warren one better by leading the breakup of big tech.

    Earlier, the Washington Post published more details about the incipient anti-trust push when it revealed that the FTC also has jurisdiction over an anti-trust probe into Amazon, as the FTC and DoJ divide up the anti-trust push not on a company by company, but on an issue-by-issue, basis, as WSJ explained.

    The NYT also published new details about the DOJ's probe into Google, which will reportedly focus on its advertising and search businesses.

    More at: https://www.zerohedge.com/news/2019-...petition-probe
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

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  3. #2
    About time and long overdue.

  4. #3
    A federal government crackdown is reportedly targeting Big Tech, leading to severe punishment Monday on Wall Street.
    Shares of Alphabet Inc. GOOGL, -6.12% GOOG, -6.11% , Amazon.com Inc. AMZN, -4.64% , Facebook Inc. FB, -7.51% , and Apple Inc. AAPL, -1.01% were slammed Monday after a series of reports that have rolled out since Friday afternoon, claiming that those companies face regulatory scrutiny from the Trump administration. Alphabet’s Google division, Amazon and Apple are reportedly under investigation by the Justice Department, while the Federal Trade Commission is said to be investigating Facebook.
    Late Monday, the House Judiciary Committee also said it would investigate competition in the tech industry.

    More at: https://www.marketwatch.com/story/fe...med-2019-06-03
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  5. #4
    Account Restricted. Admin to review account standing


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    Facebook and Amazon are losing users and business also. Sell the shares and get your money.

  6. #5
    "The Patriarch"

    Quote Originally Posted by spudea View Post
    As is regularly pointed out on this forum, Trump is an idiot, a liar, and regularly uses bloated exaggeration so why would anyone put much stock into what he says? I think it's easy to figure Trump out. Sorry you are still confused.
    Quote Originally Posted by Schifference View Post
    The man did not think clearly. It was almost as if he had brain cancer of something.
    Quote Originally Posted by Swordsmyth View Post
    LOL

    Voting does not justify being robbed by criminals using government.
    Quote Originally Posted by pcosmar View Post
    Yup,,as inconsistent as he is prolific..

  7. #6
    The report sent Facebook shares down 9% in midday trade, wiping $6 billion off CEO Mark Zuckerberg's net worth in minutes, showing just how seriously the market is taking the risk that the Trump Administration could do Elizabeth Warren one better by leading the breakup of big tech.
    Good.

    Hope that motherfucker ends up begging in the streets.

  8. #7
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    Quote Originally Posted by Anti Federalist View Post
    Good. Hope that motherfucker ends up begging in the streets.

  9. #8
    Quote Originally Posted by Anti Federalist View Post
    Good.

    Hope that motherfucker ends up begging in the streets.
    The only bone he has in his body is up his rectum
    A savage barbaric tribal society where thugs parade the streets and illegally assault and murder innocent civilians, yeah that is the alternative to having police. Oh wait, that is the police

    We cannot defend freedom abroad by deserting it at home.
    - Edward R. Murrow

    ...I think we have moral obligations to disobey unjust laws, because non-cooperation with evil is as much as a moral obligation as cooperation with good. - MLK Jr.

    How to trigger a liberal: "I didn't get vaccinated."



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