The Federal Trade Commission’s long-running antitrust crusade against Meta—parent company of Facebook, Instagram, and WhatsApp—is not just misguided, it’s a threat to innovation and consumer choice. As Market Institute Norm Singleton writes in The Libertarian Republic, this bipartisan effort to break up Meta is based more on ideological hostility toward successful tech firms than actual harm to consumers or competition.
“Disappointingly—but not surprisingly—the Federal Trade Commission (FTC) is continuing their antitrust lawsuit against Meta… It meets the classic definition of bipartisanship, which is when the stupid party and the evil party team up to do something both stupid and evil.”
The FTC’s core argument is that Meta acquired Instagram and WhatsApp to suppress competition. But as Singleton makes clear, the facts don’t support that claim. Both companies have exploded in popularity since the acquisitions, thanks in large part to Meta’s investment and integration.
“Meta’s acquisition of Instagram is not an example of a dominant firm buying out a potential competitor to bury it. Rather, it is an example of a successful business seeing an opportunity to further grow by acquiring newer, smaller firms—thereby accessing their resources.”
Singleton also highlights how Meta’s success has benefited consumers. Unlike a traditional monopoly, Meta offers its services for free and spends billions on research and development. It’s constantly evolving—because it has to. Just ask TikTok.
“Meta does not behave like a monopoly. Monopolies have the power to charge prices above competitive levels and offer low-quality products. Meta offers all its products for free… Over the past couple of years, young people have left Facebook and Instagram for TikTok… In response, Instagram is promoting its own short-form reels.”
Trying to block acquisitions like these won’t protect consumers. It will just make it harder for the next generation of startups to grow—and harder for American tech companies to stay competitive globally.
“Acquiring new smaller firms and using its resources to grow them into larger successful businesses is a key component of Meta’s strategy… Stopping this process will make social media less innovative.”
It’s time for the FTC to drop its outdated and harmful approach to antitrust. As Singleton puts it, the agency should follow the advice once given about Vietnam: “declare victory and get out.”
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