Facebook co-founder Chris Hughes calls for tech giant to be broken up
Mr Hughes, who is a member of the Democratic Party in the US, said that breaking up Facebook would be possible - and suggested there was political support for the idea.He noted Senator Elizabeth Warren, who has announced her candidacy for president, has called for a reversing of a series of mergers which Facebook had undergone to grow to its current size.
He suggested:"Facebook would have a brief period to spin off the Instagram and WhatsApp businesses, and the three would become distinct companies, most likely publicly traded. "Facebook shareholders would initially hold stock in the new companies, although Mark and other executives would probably be required to divest their management shares."
Forcing the company to be broken up would cost"next to zero for the government" he argued, claiming"lots of people stand to gain economically" from the move. Facebook's shareholders would benefit in the same way that monopolistic companies which had previously been split up including Standard Oil and AT&T had benefited their shareholders.And such a break-up would almost exclusively be driven by the US government.
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