The monopoly argument feels questionable. FB's acquisition of Instagram and Whatsapp has certainly solidified their long term standing. There is so much behavior crossover between the three that at some level it's become just a branding exercise. Whatsapp is entirely replaceable by FB messenger, many instagram features are directly implemented in FB and vice versa.
These are all serving slightly different parts of the market, but the market has TONS of social networks that are entirely outside of FB control. TikTok, Reddit, Twitter, even an ecosystem like google accounts or apple accounts, these all are large competitors to different aspects of what FB offers.
These are all serving slightly different parts of the market, but the market has TONS of social networks that are entirely outside of FB control. TikTok, Reddit, Twitter, even an ecosystem like google accounts or apple accounts, these all are large competitors to different aspects of what FB offers.