Are FANG stocks Turning on Each Other? Sure Seems that Way

By: Andrew McShane

Recently, both Google and Facebook have been hit with some serious lawsuits. Google is being sued by 30 states claiming that the tech giant is monopolizing ad space and revenue from smaller ad networks and search engines by promoting their own reviews. And Facebook is being hit with litigation claiming that it bullied its way to a monopoly by buying up its competitors like Instagram and Whatsapp.

Sure, the companies have faced plenty of smaller lawsuits in the past but have primarily avoided having to pay significant fines or change the way they do business.  For the most part, Google doesn’t seem to rattled and Facebook is too big to be torn apart into smaller companies.

However, one thing that does seem to be really irritating Facebook recently is Apple. Facebook has taken out ads in major publications as well as attacked Apple inside its own product. Apparently, Facebook does not like the new Apple’s new iOS 14 which will make developers ask the user’s permission if they want to track them. Of course this would rattle Facebook. Hidden data collection of its users is Facebook’s primary product.

A backlash to all of this data mining of user behavior is to be expected and lashing out at Apple isn’t going to help Facebook. Apple should be applauded for its transparency. But Facebook is in for a world of hurt if they don’t figure out a way to shift their data collection to be more transparent as well. Asking users for permission to track is going to make their privacy at the top of their mind, and not just some glancing headline they read on the way to more cat videos.


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