Mark Zuckerberg does not intend to separate Facebook, the most popular network in the world, from WhatsApp and Instagram FB, also owned by the company. The entrepreneur is convinced that breaking up Facebook will not solve issues faced by the network.
This speech of the Facebook founder was an answer to his business partner Chris Hughes who claimed the network to be a monopolist that needed to be broken up. According to Hughes, one of the reasons why Facebook experiences security troubles is that it controls over 80% of the market. The company became a monopoly and does not trust regulators, he outlined. On the other hand, Mark Zuckerberg does not deny there are some difficulties, but he is sure the company can manage the situation without outside intervention. The current issues mainly relate to harmful content as well as maintaining a balance between freedom of expression and the security of users’ personal data. The Facebook chairman added that being a monopolist, the company is responsible for all expenses related to the network’s operation.
Last week, Chris Hughes criticized management by Zuckerberg and urged to break up Facebook. The company’s CEO has “an unprecedented power” and holds about 60% of its shares, he added. This way, Zuckerberg can make decisions on any changes in the social network on his own.
His business partner believes that Facebook should be forced to reverse its acquisitions of Instagram and WhatsApp, while such takeovers should be forbidden at all. In Hughes’ opinion, the company’s shares must be redistributed among shareholders in proportion to their current state. He is sure that breaking up Facebook will have a positive effect on the shares of new companies as well as on the technological component of the social network.
