Washington falls out of love with big tech
Having done their homework, US lawmakers have finally hauled the tech giants in for a grilling on their anticompetitive behaviour
In an e-mail sent on April 5 2012, Facebook CEO Mark Zuckerberg wrote: "I just need to decide if we’re buying Instagram." In another, he added: "Instagram can hurt us meaningfully without becoming a huge business."
Later that month Facebook bought the upstart tech competitor for an eye-watering $1bn. Two years later it would pay $19bn for WhatsApp...