Mark Zuckerberg says Facebook isn’t a monopoly

By Social MediaFOXBusiness

Mark Zuckerberg: Facebook would welcome 'right' regulations

Facebook CEO Mark Zuckerberg discusses how his company would work with Congress to create fair regulations.

Facebook founder Mark Zuckerberg struggled to name a single competitor to the social media platform during a hearing before the Senate judiciary and commerce committees.

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Sen. Lindsey Graham (R-SC) wondered if Facebook operates as a monopoly, asking Zuckerberg, “Who’s your biggest competitor?”

The CEO hesitantly named Google, Apple, Amazon and Microsoft as other big tech companies that “overlap” with Facebook in a variety ways.

Graham pushed Zuckerberg to elaborate on whether the other tech companies provide the same service as Facebook by using an example from the auto industry.

“If I buy a Ford, and it doesn’t work well, and I don’t like it, I can buy a Chevy. If I’m upset with Facebook, what’s the equivalent product I can go sign up for?” the senator asked.

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Zuckerberg attempted to link Facebook to the several apps users are able to access as an alternative to the social media platform.

“The average American uses eight different apps to communicate with their friends and stay in touch with people,” he said.

When Graham asked if Zuckerberg thought Facebook was a monopoly, the CEO replied, “It certainly doesn’t feel like that to me.”

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