Public
Mark Zuckerberg / Facebook · 2010s
Press and later antitrust testimony
“Public Facebook described a fiercely competitive market in which users could leave at any time and rivals were a click away.”
The public market is exit. The private market is acquisition. Instagram later became the worked example.
The tell · If the founder writes “buy rather than compete,” believe the email, not the concentration speech.
How this became public: House Judiciary Committee antitrust document dump, 2020.