JOINED BY
JOHN MAYER, MANAGING PARTNER AT
STARSHIP CAPITOL, THANK YOU
JOHN FOR JOINING SO FACEBOOK
ISN'T THE ONLY BIG TECH COMPANY
BEING EYED BY REGULATORS BUT
WHAT DOES THIS RULING MEAN FOR
FACEBOOK IN THE LONG TERM.
>> WELL THIS DECISION BY THE
JUDGE IS
IS BY BEFORE I SAY ONE OF THE
BIGGEST BLOWS SETBACKS THE FTC.
THE WE'VE SEEN IN THE LAST I'D
SAY 2 DECADES, WHAT THIS MEANS
IS THAT YOU
KNOW WITHIN
INDUSTRY, YOU KNOW SIR
YOU WERE THE HUGE TREE ON A
VERY BINS DO WE HAVE IT IS
REALLY ONE
OF SHOCK. THAT'S BECAUSE
THERE'S BEEN THIS PERCEPTION
YET TO SEIZE POWER.
SPECIAL OR LEADING INTO
THE FIRE. THE STATION HAS BEEN
HUGE
IT INTENSELY. GRADES AND STRONG
AND QUITE POWERFUL AND SO WITH
THERE ARE CLEAR AND I SAY IF
YOU'RE MAD, THEY'RE SHUTTING
DOWN OF THIS LAWSUIT.
IT COMES AS A SURPRISE I'D SAY
TO THEM ANY
OF THAT WHO HAVE AGAIN OR SEEN
YET TO SEE IS THIS
BIG BEAR US THAT IS IS WITH THE
BIDEN ADMINISTRATION ARE GOING
TO BE IN HUGE POWER
TO BREAK UP
BIG TECH IS ON AND PUSH FORWARD
TO IT THE
TRUST LAWSUITS.
>> AND JOHN WHAT ARGUMENTS THAT
REGULATORS PRESENT AGAINST
FACEBOOK.
>> LET ME GET SOME CONTEXT HERE
SO YOU KNOW THE FTC SUED
FACEBOOK
LAST DECEMBER ATTORNEY GENERALS
FROM
LITERALLY FOR EACH STATES
ARGUING THAT FACEBOOK HAS
ESSENTIALLY ENGAGED IN A FULL
SYSTEMATIC STRATEGY, THE TO
SHUT THEIR USING ITS MONOPOLY.
OBVIOUSLY THE 2012 THE
2014. ACQUISITIONS OF INSTAGRAM
AND COURSE WE KNOW THAT RIGHT
AND THIS WAS KIND OF WELL.
BUT THEY TURN TO FACEBOOK DOWN
MULTIPLE TALKS WHAT THE
AGENCIES ARE DOING THERE.
IT'S IT'S REALLY A SIMPLE
AS A BREAKING OFF A FEW OF
THESE
YOU KNOW WIRED SOCIAL MEDIA
COMPANIES SUCH AS INSTAGRAM AND
THAT'S ALSO
MY PERSONAL OPINION TAKE AS
WELL I
FIND IT. INCREDIBLY CLEAR ABOUT
THIS THAT FACEBOOK WAS THE
MOST CLEAR A MONOPOLY IN THE
TECHNOLOGY INDUSTRY AND TO ME
YOU KNOW IT PORTER SERVED AS
A COUNTRY. WE'RE STILL ON STILL
ALLOWING THE COMPANIES SUCH AS
FACEBOOK IN VIRTUALLY THE
ENTIRE SOCIAL MEDIA
INDUSTRY INSIDER FROM ONE STATE
TO TALK WHICH IS MORE ORIENTED
TOWARDS
TO IT SO IT'S REALLY AS SIMPLE
AS JUST HAVING FACEBOOK THAT
THAT'S THE PROPER LIKE
INSTAGRAM MAKE THAT AND THE
HEAD OF THE ALL OF US ARE
THERE'S
EXTREME COMPETITION IN THE
SOCIAL MEDIA SPACE AGO IN WHICH
WE HAVE A SCHOOL FOR I SAY 20
YEARS.
>> WRIGHT AND JOHN ACCORDING TO
THE COURT THE FTC DIDN'T
PRESENT ENOUGH EVIDENCE TO
MAKE THIS POINT SO HOW COME TO
THIS HAPPENED WHY DIDN'T THEY
PRESENT ENOUGH EVIDENCE TO MAKE
THEIR POINT.
>> BUT I WILL QUESTION AND THIS
IS WORK IT'S VERY INTRIGUING.
PART OF THE STUNNING REACTION
TO THIS IS IS FIGURING OUT WHY
THIS HAPPENED AND DIGGING A
LITTLE DEEPER. WHAT I'VE BEEN
ABLE TO FIGURE OUT IS THERE DO
YOU THE LEGAL CASE ITSELF HAS
YET TO
SEE WHAT FORWARD THE LAWSUIT
ITSELF WITH THE TEXT IN THE WAS
VERY WEAK. IT LACKED A LOT
OF THE ACTUALLY EXISTING
EVIDENCE THAT IS OUT THERE THAT
CAN IMPROVE.
THAT FACEBOOK IS A MONOPOLY AND
WHAT THE CONSENSUS IS IS
THAT YEAH YOU SEE
ALMOST ASSUMED THAT THIS WOULD
BE AN EASY WIN FOR THEM THAT
THE JUDGE WOULD ALREADY WE THAT
FACEBOOK WAS A MONOPOLY IS A
MONOPOLY. AND THAT THIS WOULD
BE AN EASY WORK SO. NEXT STEPS
FOR THAT YOU SEE IS A
HUGE DISAPPOINTING. BUT I'D SAY
OR LEAVE
GROUP BED. TO ACTUALLY WITH
STRONGER EVIDENCE AND SHORE
ORDINANCE. THE ONLY PROBLEM IS
THIS IS GOING TO TAKE A WHILE
I'D SAY WE'RE NOT GOING TO SEE
A REFINERY
MOST LIKELY 4, 1, HALF TO 2
YEARS OF THE EARLIEST. AND THE
OTHER THING IS
THAT THIS PUTS MONEY MEDICAL
SETBACKS ON ANY EFFORTS.
TO ALSO BRING FORWARD LAWSUITS
AGAINST COMPANIES LIKE GOOGLE
OR AMAZON OR APPLE. FOR OTHER
POSSIBLE ANTITRUST SO I THINK
IS GOING TO BE REGROUPING
ACROSS THE WAR WITHIN THE FTC
BECAUSE
OF THIS. MY PREDICTION IS WE
WON'T SEE ANOTHER FIGHT FOR
ANOTHER YOU HAVE TO TREAT YOU
THERE'S BUT THERE WILL BE OF
THE FIRE THERE'S NO WAY YET TO
SEE IS GOING TO JUST
YOU KNOW I SOLEMNLY WALKED HOME
AFTER THIS AND NEVER TOUCH THIS
CASE AGO.
>> AND JOHN DO YOU THINK THAT
SOMEHOW THIS RULING STRENGTHENS
THE HAND OF LAWMAKERS WHO ARGUE
THAT TODAY'S OUTDATED ANTITRUST
LAWS LIKE THE TEETH TO RESTRAIN
TECH GIANTS.
>> ABSOLUTELY YOU KNOW I
THINK IF THERE'S ADDITIONAL SAY
FOR THE
BIDEN ADMINISTRATION TO OVER
THE NEXT FEW YEARS IS IT'S
GOING TO BE IT NEEDS TO BE
A DRAMATIC. GET YOUR
ORGANIZATION AND INNOVATION
IMPROVEMENT. THE
ACTUAL PRACTICES. THAT THE SHOW
JUST THE WAY
THE FTC WAS IT HANDLES THESE
LAWSUITS BECAUSE WE'RE LIVING
IN A FULL BOIL TECHNOLOGY
EXPLOSION OR IT IS OFFICIALLY
THE ROARING 20'S, WE'RE SEEING
SELF-DRIVING CARS ALL OVER
THE PLACE YOU KNOW SHE ADDED
IT A FAR LARGER THAN
YOU KNOW. AND THE SOCIAL MEDIA
COMPANY IS UNDER LEVEL IS THE
POWER
OF SERVICE CLEAR WE NEED A
DRAMATIC IMPROVEMENT AND THERE
ARE NO LAWS. FOR THE GOLDEN
COMPANY IS IN GENERAL ALL LET
ON THE ANTITRUST FOR.
>> THE NEW CHAIRWOMAN OF THE
FTC
LEE NECK AND HAS A VERY
AGGRESSIVE POSITION AGAINST BIG
TECH AND BREAKING DOWN BIG TECH
SO HOW DO YOU THINK THAT
HER APPOINTMENT. WELL CHANGE
THE INDUSTRY THE FIELD OF BIG
TECH GOING FORWARD.
>> WELL I THINK HE BRINGS AN
INTENSE
FIRE AGAIN TO REALLY HOLD BIG
TECH ACCOUNTABLE AND TO
TO TRULY. AND FINALLY PUT
CONSUMERS FIRST YOU IS
WITH THIS FAILURE IN
THIS LAWSUIT. IT IS A MINIMUM
VERY CLEAR HEAR THAT THERE
NEEDS TO BE A DRAMATIC
IMPROVEMENT IN THE FTC'S LEGAL
TEAM BECAUSE AGAIN THE BIGGEST
PROBLEM WITH
THIS LAWSUIT. IT WAS A
MASSIVE LACK OF EVIDENCE AND A
FOUNDATIONAL FOR THEIR IN THEIR
ARE GIVING US.
WHICH IS YOU KNOW GET
DISAPPOINTED TO CONSUMERS
BECAUSE THAT
EVIDENCE EXISTS IF THEY PUT THE