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5/17, 5:01 PM (Source: TeleTrader)
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FB's Sandberg: Breaking up tech giants not right solution

Facebook Inc.'s Chief Operating Officer Sheryl Sandberg told CNBC on Friday that regulation for companies is necessary but insisted breaking up large technology companies such as Facebook is not the way to do it. "You could break us up, you could break other tech companies up, but you actually don’t address the underlying issues people are concerned about," she stated.

Sandberg claimed that the regulation should focus on election security, content, privacy and data portability and added that Facebook already took steps to improve safety and security on their platforms. She also hinted that breaking up large American companies could benefit Chinese firms. "While people are concerned with the size and power of tech companies, there’s also a concern in the United States with the size and power of Chinese companies, and the realization that those companies are not going to be broken up," Sandberg said.

Democratic 2020 presidential candidates Elizabeth Warren and Joe Biden called for the break-up of large tech companies, claiming they have "too much power" over the country's economy. Meanwhile, US President Donald Trump opposed the Democrats' proposal, noting he "doesn't like the concept" of breaking up firms like Facebook, Google and Amazon.

Breaking the News / NP