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Facebook spent $5.1 million on lobbying in the third quarter

Byadmin

Oct 22, 2021
Facebook spent $5.1 million on lobbying in the third quarter

In the third quarter, lobbying spending increased by 6.7 percent.

In the third quarter, Facebook Inc. spent $5.1 million on lobbying, increasing its spending in Washington once more as internal documents made public prompted new charges from Congress and securities regulators.

Spending on social media lobbying by the company increased by 6.7 percent from the previous quarter and by 3.9 percent from the third quarter of 2020. Other tech behemoths like Amazon.com Inc., Microsoft Corp., and Google’s Alphabet Inc. have spent far less.

Antitrust laws provide an opportunity for tech behemoths to participate.

Facebook is facing challenges in Washington on several fronts, including new congressional scrutiny of Internet privacy rules and online child protection.

Legislators argue that Facebook is aware of the dangers its platforms pose to users and society at large, despite downplaying them publicly.

In addition, Congress is working on bipartisan antitrust legislation that could have significant implications for Facebook’s business practices. The Federal Trade Commission has filed a complaint against Menlo Park for its previous acquisitions of photo-sharing platform Instagram and messaging platform WhatsApp.

According to the third-quarter lobbying disclosure, Amazon spent $4.7 million, Google spent $2.6 million, and Microsoft spent $2.6 million, all of which is significantly more than it spent in the second quarter of this year.

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