Concerning Big Tech, antitrust laws may have been broken and arguably need to go further in protecting consumers, competition and rights. Facebook was given permission by the US Federal Trade Commission (FTC) to acquire Instagram and Whatsapp, in 2012 and 2014 respectively. But the FTC have since backtracked and are currently investigating whether Facebook tired to acquire their rivals before or after they became a threat to their business. Many have argued however that these acquisitions shouldn't have been allowed to go ahead in the first place as the company was simply buying out their rivals to consolidate power over the market.
Deregulation under the Clinton administration, in the form of the Telecommunications Act of 1996, controversially allowed cross-ownership of media companies, and resulted in a drop in large media company competition from 50 to 6 companies during this periodI. As media giants are now transitioning to the Internet this picture is much worse, with only four media companies dominating communications and entertainment; Facebook, Apple, Google, and Amazon. To make matters worse companies like Facebook operate in an unusual position, with one person, CEO Mark Zuckerberg owning 56% of the company's shares. This gives Zuckerberg almost tyrannical command over how the company is run, from matters of privacy, free speech, to market dominance, all decided by one man.