Chris Hughes was nearly right about breaking up Facebook

Facebook co-founder says it's time to break up the company

Hughes joins "CBS This Morning" to discuss why he chose to speak out about his concerns. Fundamentally, his argument is that Facebook will continue to falter and cause pain if its monopoly is allowed to persist, and Zuckerberg has the power to do whatever he likes.

On his Sunday program Fareed Zakaria GPS, Zakaria asked Hughes about his op-ed for the New York Times "where the biggest concern you say in the piece is the degree to which Mark Zuckerberg has nearly total control over what information we all read about, access".

In a video accompanying the article, Chris said the early days of Facebook spoke of a classic American story of innovation and entrepreneurship.

"Just like we've done with Standard Oil, AT&T, we say, 'This is a monopoly, the market is frozen, there is no competition and there is no accountability, '" Hughes said.

He comes to the conclusion that Uncle Sam should step in and break them up, which is of course a Paul Krugman-type of absurd, socialistic demand that would punish shareholders and destroy America's greatest job creator - Silicon Valley (as well as Manhattan's own Silicon Alley).

According to Clegg, the size of Facebook isn't an issue, what is important is that companies are held responsible for their actions.

Critics say the company's pivot to privacy, which will introduce more encrypted communications, will restrict Facebook's ability to police propaganda, hate speech and another abusive behaviour. "And then people get outraged". But "I don't think dismantling companies altogether is the way to deal with some of the complex issues which [Hughes] quite rightly highlighted", he said. "You know, we invest more in safety than anyone in social media", reported TechCrunch, quoting Zuckerberg.

Delete Facebook and go... where? Facebook's board works more like an advisory committee than an overseer, because Mark controls around 60 percent of voting shares.

"The government must hold Mark accountable".

"There are quite a number of folks who are anything but clueless in the government". I'm disappointed in myself and the early Facebook team for not thinking more about how the News Feed algorithm could change our culture, influence elections and empower nationalist leaders. Facebook has blown past earnings estimates in the past two quarters and its stock price barely budged in response to Hughes' opinion piece.

For example, Justin Rosenstein, who created Facebook's famous "Like" button, said Facebook and other social networks as they're now set up could be hurting individual psychology, according to The Verge.

"The - your biggest concern, you say in the piece is the degree to which Mark Zuckerberg has nearly total control over what information we all read about, access", said Zakaria.

Hughes said the break-up, under existing anti-trust laws, would allow better privacy protections for social media users and would cost USA authorities nearly nothing. "Probably not, but there are some friendships where you have disagreements, and big ones, and you still stay friends".

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