Social media is such a new technology that is so much hard to catch up with it in many ways. The critical thing to understand about this technology is that many brands are making quite a bit of money out of it at the end of the day.
Because of their monetization methods, an imbalance has occurred whereby some brands have gained much more than others which have enabled them to create corners by standing out from the competition. An obvious example of this can be seen with Facebook, which is now the owner of WhatsApp as well as Instagram.
Monopolies in Silicon Valley have become such an argument that representatives both in the United States as well as the European Union have considered introducing legislation that would expect big companies such as Google, Amazon, and Facebook to distribute into their different parts because these works are being seen as anti-competitive.
The founders of Instagram have now counted in on the matter. Instagram’s sale to Facebook was a significant notice of the times to come, and the founders of Instagram, Kevin Systrom, and Mike Krieger, formerly worked at Facebook after their company had been obtained, managing Instagram for Facebook, the social media giant. They both left their positions in September which inflated concerns about whether Facebook had created a restrictive environment for them to work in, but they both declared that this was not the problem. According to them, the takeover by Facebook is what allowed Instagram to become as successful and popular as it currently is. They consider breaking up the monopoly as a mistake.
What do you think? Do you think they are telling the truth? Comment us below.
