FTC Files Second Suit Accusing Facebook Of Monopoly Practices
Once again the Federal Trade Commission has filed suit against social media giant Facebook, accusing the company and its top executives of having and conspiring to obtain an illegal monopoly. Just last June a similar complaint was thrown out by the courts based in part on the substance of the evidence in the earlier suit.
Regarding the December 2020 complaint, it alleged that Facebook executives, including CEO Mark Zuckerberg, recognized that Instagram was a “vibrant and innovative personal social network and an existential threat to Facebook’s monopoly power”. Zuckerbergs Facebook company then bought Instagram to eliminate the threat. Yet even with condemning company emails from Mark Zuckerberg in which he wrote ‘It’s better to buy than compete’, U.S. District Judge James E. BoasbergCourt said the FTC hadn’t provided evidence Facebook is a monopoly, and dismissed the lawsuit.
This New Lawsuit Has More Teeth
Now in a December 19, 2021 announcement the FTC states on its website, “Today, the Federal Trade Commission filed an amended complaint against Facebook in the agency’s ongoing federal antitrust case.” The FTC says “The filing with the UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLUMBIA is nearly 30 pages longer than the original. It gives more backing for its claim that the social network is a monopolist in an attempt to address the judge’s concerns.”
You can read the FTC news release and court documents by checking the links here:
Click on Image above to view entire Federal Court Document
Urban Outfitters Will Launch Online Marketplace – Nuuly Thrift
Ecommerce sites such as Poshmark, ThredUp and others offering secondhand clothing and other goods will soon have a new rival in the online website, Nuuly Thrift.
“Nuuly Thrift is where the magic of that perfect little vintage shop meets the wizardry of digital shopping.” – Nuuly.com
The Urban Outfitters Inc online company, Nuuly, allows subscribers to rent any 6 styles of clothing every month, for $88 with free shipping. At the end of the month the subscriber can return the items or buy them.
Why A Nuuly Thrift App?
Now a new Nuuly app called “Nuuly Thrift” will be coming out in the fall. The idea seems to provide a platform on which Nuuly customers will sell the used Nuuly clothing they previously bought. Thus the company hopes to cash in on the business of other second hand clothing ecommerce websites like Poshmark, ThredUp, Ebay and other resale platforms.
According to David Hayne, president of Nuuly and chief technology officer for Urban Outfitters. “From a thrift standpoint, we know that if we don’t provide the platform it’s not going to keep sellers from selling on other platforms. These secondhand experiences are happening whether we’re playing in them or not.”
This new re-selling Nuuly Thrift app will let sellers list products from any brand, but plans to offer a more “curated experience” than its competitors. One thing is certain, according to market research, over 40% of Gen Z shoppers purchased secondhand fashion in 2020. And some of the largest online re-selling platform companies have reported strong sales gains in their latest three quarters of profit reporting.