After the Federal Trade Commission was unable to prove that Facebook Inc (NASDAQ: FB) had a monopoly, a federal court recently dismissed antitrust claims against the firm.
Although there isn’t an imminent antitrust threat to big internet businesses, Elevation Partners’ Roger McNamee said Monday on CNBC’s “Squawk On The Street” that governments will soon seek to restore authority.
“Internet platforms have so much data about the individuals who use them,” McNamee added, “that they have the potential to be a catalytic force in politics.”
According to McNamee, the greater immediate risk to Facebook is Apple Inc.’s (NASDAQ: AAPL) privacy measures.
According to him, the vast majority of individuals using Apple’s iOS 14.5 choose not to share data with Facebook and other platforms, posing a far greater immediate risk to Facebook than antitrust.
According to McNamee, Apple’s new privacy features could result in a significant decline in Facebook’s advertising revenue.
Why Is Facebook Warning About Apple’s Impact On Revenue In The Coming Quarters?
Price Movement on Facebook: Over the last 52 weeks, Facebook has gone as high as $358.79 and as low as $226.90.
The stock was up 0.48 percent to $353.50 at the time of our latest check on Monday.
Pixabay photo by Coffee Bean.
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