Meta is a monopoly. It doesn't matter that other platforms exist. Those platforms don't make a lot of money (at least in the US) and whether you're a monopoly or not is about money. (You also don't need 100% - essentially if you have a lot and you have the power to distort the market, you're a monopoly.)
The business of social media is ads. In the US the vast majority of social media ad spend goes to Meta. Thus, monopoly.
Google and Meta hold a duopoly over digital ad spending in general.
The FTC agrees and is suing Meta for monopolizing social media and the "metaverse." Anything could happen with these lawsuits but they wouldn't be doing this if they didn't think they had a good case.
The business of social media is ads. In the US the vast majority of social media ad spend goes to Meta. Thus, monopoly.
Google and Meta hold a duopoly over digital ad spending in general.
The FTC agrees and is suing Meta for monopolizing social media and the "metaverse." Anything could happen with these lawsuits but they wouldn't be doing this if they didn't think they had a good case.