(San Francisco)

Facebook announced this week that it would pay a $5 bn fine to settle a Free Trade Commission investigation into privacy violations. The exact same day, Facebook announced that the FTC had launched another probe, this one perhaps more worrying. The new probe is a formal antitrust investigation into Facebook. The company disclosed the investigation alongside its quarterly results yesterday.

FINSUM: So Facebook and big tech not only have the DOJ on them now, but now the FTC too. End of the golden age of the FAANGs?