Defending Its Overwhelming Market Power, Facebook Cites Competition With Itself

Facebook (NASDAQ: FB)CEO Mark Zuckerberg is undergoing the second day of his congressional grilling, and several lawmakers have homed in on the company's overwhelming market power and influence in the social media sector. Generally speaking, companies don't like being called monopolies because of the implicit antitrust regulatory risk should they be officially deemed one.

While Facebook would likely fail any official measure (such as the Herfindahl-Hirschman Index) of being a monopoly, there's no question that Facebook dominates the social media landscape.