Facebook VP for global affairs and communications Nick Clegg has penned an op-ed in the New York Times defending the company against former founder Chris Hughes’ calls for it to be broken up.
According to Clegg, the size of Facebook isn’t an issue, what is important is that companies are held responsible for their actions.
Clegg also admitted that while Facebook operates under “more regulation now than at any point in the history of the company”, more should still be done.
He added that Facebook has been working with US regulators to improve its approach to privacy, and CEO Mark Zuckerberg has been meeting with French president Emmanuel Macron – claiming that Facebook is “in the unusual position of asking for more regulation, not less”.
While Facebook is a large company, it consists of “many smaller pieces” that fight for customers. As a result, it is difficult so justify calling Facebook a monopoly, Clegg said.
He further argued that Facebook’s primary revenue source – ads – only accounts for around 20% of the US online ad market.
“Anyone worried about the challenges we face in an online world should look at getting the rules of the Internet right, not dismantling successful American companies,” said Clegg.