Facebook Outage: Not a Hack But Shows Dire Need for Competition
Monday’s Facebook outage was a sobering lesson on the power (and, ironically, helplessness) of monopoly Big Social MediaAs the New York Times put it, “When apps used by billions of people worldwide blinked out, lives were disrupted, businesses were cut off from customers — and some Facebook employees were locked out of their offices.” (October 4, 2021) A less sympathetic source writes, As of publishing time, Facebook has been down for several hours, along with WhatsApp, Instagram, Messenger, and Oculus VR. But that’s just the beginning. The social media behemoth’s stock prices also crashed on Monday, making the company’s already bad day even worse. The plummet in stock prices came as a Facebook executive was on CNBC defending the company against claims by a whistleblower that the company prioritized profit over the safety of young Facebook users. Read More ›