According to Castleberry, “People have multiple choices for every one of the services we provide. We understand that if we stop innovating, people can easily leave our platform. This underscores the competition we face, not only in the US but around the globe.”
In addition, he said they will “work constructively with the attorneys general” and they “welcome a conversation with policymakers about the competitive environment in which we operate.”
The beginning of “state activism” to enforce antitrust law
Meanwhile, Diana Moss, president of the American Antirust Institute commented that the inquiry marks the start of “state activism” to enforce anticompetitive laws. She believes that the states’ action is a “needed counterpoint to weak enforcement.”
The multistate antitrust investigation comes after the social media giant agreed to pay $5 billion to resolve a complaint by the Federal Trade Commission (FTC) alleging that it mishandled consumers’ personal data and violated their privacy.
