Pros And Cons Of Facebook Monopoly
Abstract
Social media is open for anyone with internet connection. It’s no wonder that most of the planet has embraced social media in such a way that it has become a basic part of life. Facebook is a monopoly in the social media space. We will be looking at how this company was able to grow into the largest social media site in the world, what competition they had in this space, and if they drove any other social media companies out of business in the process of becoming number one.
Facebook the Mega Monopoly
When you think about social media the first thing most people think about is Facebook. Facebook is a huge monopoly in the social media market space. Every person I know has a Facebook account even if they have other social media accounts like Instagram, Snap Chat, and Twitter Facebook is typically the one that is most used by my friends. Facebook dominates the social media space with 71% of adults using Facebook and this is a staggering percentage. This translates to about 900 million users using Facebook on a monthly basis.
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