Antitrust hearing is one of the hottest topics from the United States’ political sphere at the moment. The House Judiciary Committee has published some of the never-seen-before documents from the investigations conducted regarding the Big Tech of the world. One of the trending documents is an email exchange between Kevin Systrom and Matt Cohler.
If you want to know what goes on in the mind of a budding tech entrepreneur who faces competition from big players of the market, this document is a perfect one for that. Kevin Systrom is a successful American entrepreneur. His most notable accomplishment is confounding Instagram, a photo and video-sharing platform.
Kevin Systrom: His Mindset Reveals Facebook’s Aggressive Business Tactics
Although Mark Zuckerberg looks like a very calm entrepreneur judging by his public appearance, the same can’t be said about his business tactics. If you look at the documents revealed by the House Judiciary Committee, it says quite a lot about how aggressive Zuckerberg is when it comes to his business pursuits.
If you take a look at the startups acquired by Facebook, you can realize how ambitious Mark Zuckerberg is. So far, the company has acquired 86 startups. We are not aware of the companies that are currently in talks with FB for merger & acquisition.
One of the iconic acquisitions by FB are Instagram($1B), WhatsApp($19B) and Oculus VR($2B). Kevin Systrom co-founded Instagram with Mike Krieger in 2010. It was sold to FB in 2012.
The documents that have been published are from the time before it went to Facebook. The exchange of text is between Matt Cohler, who’s a Benchmark investor. Matt Cohler has previously worked as VP of Product Management at Facebook.
The doc reveals how Systrom was afraid of Zuckerberg’s “destroy mode” if he decides to keep Insta as an independent company. This chat was before the acquisition, though, which was priced at $1 billion.
What’s Antitrust Law?
Without confusing you with legal mumbo jumbo, here’s the simple definition of the antitrust laws:
Antitrust laws are the laws created by the U. S. government to keep the competition in the open market fair. And open to all the businesses, irrespective of how small or big they are.
These laws protect the interests of small businesses and consumers from the predatory and unethical business practices from big firms. The laws ensure that there’s fair competition in the American market. The most famous antitrust suit is Standard Oil Co. of New Jersey vs. the United States.
Kevin Systrom: Text Exchange with Matt Cohler
The following are the screenshots of the documents published by the House Judiciary Committee on Wednesday. If you are looking for some interesting information on the Big Tech of the US, you should check these out:
Note: The names from the documents have been redacted.
Kevin Systrom said that Mark going into “destroy mode” says a lot about how fierce the business competition is in the tech sector. Although Mark hasn’t said anything about the documents published by the committee, it would be interesting how he counters Kevin’s point.
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