FTC Chair Lina Khan said in a "60 Minutes" interview that hundreds of Big Tech acquisitions in the past several decades weakened Americans' privacy protections.Tom Williams/CQ-Roll Call, Inc via Getty ImagesFTC Chair Lina Khan has led an aggressive antitrust fight against large corporations.In a recent "60 Minutes" interview, she said Big Tech acquisitions have harmed Americans.Companies like Facebook acquired smaller ventures and stripped privacy protections, she said.The Federal Trade Commission's antitrust buster said Americans lost a lot of privacy protection because a handful of large tech companies were allowed to go on an acquisition spree without greater scrutiny.In a "60 Minutes" interview that aired Sunday, FTC Chair Lina Khan said allowing Big Tech to go through hundreds of acquisitions in the past several decades was a mistake that hurt Americans."In the technology markets, we went through a couple of decades where we saw over 800 acquisitions by the five big players, not a single one of which was blocked, and some of those we realized ended up leading to significant harm," Khan said.She acknowledged Facebook's purchase of messaging app WhatsApp in 2014 for $19 billion as one example.The FTC sued Facebook in 2020, accusing Mark Zuckerberg's company of engaging in anticompetitive practices by buying Instagram and WhatsApp.
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lloydlee@insider.com (Lloyd Lee), Business Insider
Sun, 09/22/2024 - 8:08pm
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BING NEWS:
- FTC chair Lina Khan explained how Americans lost their privacy protections to Big Tech
FTC Chair Lina Khan said in a "60 Minutes" interview that hundreds of acquisitions by Big Tech players like Facebook led to less privacy protection.
09/22/2024 - 4:09 pm | View Link - FTC trustbuster Lina Khan: feared in boardrooms, cheered on by progressives — and even some MAGA Republicans
At the Federal Trade Commission, Chair Lina Khan's mission is breaking illegal monopolies, blocking mergers that stifle competition, and protecting consumers.
09/22/2024 - 11:59 am | View Link - FTC head Lina Khan fighting Big Tech, Big Pharma and Big Groceries as trustbuster
Federal Trade Commission Chair Lina Khan has gone after some of the biggest companies in the U.S. Under President Biden, the FTC has cracked down on big companies they say are hurting consumers.
09/22/2024 - 11:59 am | View Link - No Privacy For Profit's Sake: FTC Calls Out Amazon, Meta, Big Tech For Exposing Users To 'Host Of Harms'
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09/19/2024 - 8:58 am | View Link - FTC Chief Lina Khan Says Her Tough Antitrust Stance “Uncomfortable For Some People” As Election Looms
Lina Khan, the youngest person to chair the powerful Federal Trade Commission, has come down hard on monopolies and anticompetitive behavior, so some business leaders and Wall Streeters are ...
09/19/2024 - 3:30 am | View Link - More
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