Facebook is finally on defense

In response to yesterday’s FTC lawsuit, the company rattled off a list of competitors it claims to jockey against. But it’s Facebook’s economics — not its social apps — that no one can compete with.

Photo courtesy of Pixabay

The Federal Trade Commission and attorneys general from 46 states and two territories filed antitrust lawsuits yesterday against Facebook for using illegal monopoly power to crush competition, surveil its users and sideline its rivals. If successful, Facebook would likely be forced to spin off Instagram and WhatsApp, two blockbu…