Facebook and Milestones for the Zuck
July 2, 2021
I read “Facebook Reaches $1 Trillion Valuation Faster Than Any Other Company.” The write up reports that the highly esteemed Facebook (WhatsApp and Instagram) have out performed Apple, the Google, the spaceship outfits, and Microsoft. The article reports:
No stranger to breaking records, Facebook has just achieved another: the social media giant’s market cap has exceeded $1 trillion for the first time, reaching the milestone faster than any other company in history.
What has caused this surge in “valuation”? The answer is revealed in “Judge Dismisses Gov’t Antitrust Lawsuits against Facebook.” This separate write up in a news service oh, so close to Microsoft’s headquarters, states:
A federal judge on Monday dismissed antitrust lawsuits brought against Facebook by the Federal Trade Commission and a coalition of state attorneys general, dealing a significant blow to attempts by regulators to rein in tech giants. U.S. District Judge James Boasberg ruled Monday that the lawsuits were “legally insufficient” and didn’t provide enough evidence to prove that Facebook was a monopoly.
Concentration is good, it seems. For social media start ups, have you thought about issuing T shirts with the Zuck’s smiling face printed on them? You can update your Facebook page and do some Instagram posts. Don’t overlook WhatsApp as a way to spread the good news. About the T shirts I mean.
Stephen E Arnold, July 2, 2021
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