Earlier this month, Washington D.C. began their fight one of the biggest companies in not only the entire United States, but also the world. The Department of Justice is investigating numerous companies on the internet and they’re also doing a reported antitrust investigation, which investigates the laws also known as competition laws that are designed to protect consumers from predatory sales practices.
The FTC released documentation of the antitrust probe of both Google and Facebook, and in the past, while there are penalties in place on the companies over the years, the government isn’t quite ready to act.
On Wed, September fourth, it was recorded that Google’s well-known YouTube was fined by the FTC in a record amount for violating the privacy protections for children, but YouTube took it with the same grain of salt as it always did. As a result, the parent company Alphabet had shares that went up after they heard the news that they would have to pay over 169 million dollars to settle the fines. However, this penalty is nothing compared to what the parent company makes on a daily basis.
Why did it not get taken too seriously? Well, aside from the financial aspect, this is what the marketing social media giant Facebook had to deal with just not long ago when it was fined 5 billion dollars. But that fine is tiny compared to what Facebook makes in even one month. After the fine, Facebook actually even gained more than 5 billion dollars back in their net worth by the end of that day.