Meta CEO Mark Zuckerberg Testifies in Antitrust Trial Over Instagram and WhatsApp
Mark Zuckerberg claimed Meta's acquisitions of Instagram and WhatsApp were for growth, not to suppress competition, amid FTC antitrust allegations.
The government brought up the failed acquisition attempt to support its argument that Meta aims to preserve its dominance in the social media landscape by acquiring rivals, rather than competing with them directly.
Zuckerberg: Snapchat would have grown faster if it accepted $6B buyout offer
TechCrunch·2d·ReliableThis source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.CenterThis outlet is balanced or reflects centrist views.The case could force the tech giant to break off Instagram and WhatsApp, startups it bought more than a decade ago that have since grown into social media powerhouses.
Meta CEO Mark Zuckerberg wraps up testimony in antitrust case
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To me, it kind of underscores how important it is for the FTC and the DOJ, the Department of Justice, which are the two big antitrust regulators in the US at the federal level.
Will Meta Really Have to Sell Instagram and WhatsApp?
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Summary
In a pivotal antitrust trial, Meta CEO Mark Zuckerberg testified that the company’s acquisitions of Instagram and WhatsApp were motivated by their potential for growth rather than competitive suppression. The FTC argues that Meta illegally stifled competition, seeking to force the company to divest these platforms to restore market competition. This trial is crucial as it highlights the ongoing scrutiny of Big Tech's practices amidst evolving social media dynamics and regulatory challenges.
Perspectives
Zuckerberg defended his acquisitions of Instagram and WhatsApp as necessary for their growth and claimed that he acted out of interest in their value, not to eliminate competition.
Meta argues that it faces significant competition, citing TikTok and YouTube, and that the FTC's definition of the social media market is too narrow.
The FTC claims Meta created an illegal monopoly by acquiring potential rivals, but Meta contests that its strategy was to innovate and keep pace with a rapidly evolving landscape.