Zuckerberg Testifies in Antitrust Trial Challenging Meta's Acquisitions
Mark Zuckerberg faced intense questioning in a trial about Meta's acquisitions of Instagram and WhatsApp, accused of cementing a monopoly.
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The trial is one of the first big tests of President Donald Trump's FTC's ability to challenge Big Tech.
Meta CEO Zuckerberg returns to witness stand, pushes back against FTC antitrust allegations
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The case threatens to bust up the company's $1.3 trillion business empire.
Mark Zuckerberg defends Meta in court against monopoly claims
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Antitrust cases like this one are significant since they can have a massive impact on the platforms' future.
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The trial is one of the first big tests of President Donald Trump’s FTC’s ability to challenge Big Tech.
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The acknowledgement appeared to bolster allegations by U.S. antitrust enforcers that Meta had used a "buy or bury" strategy to snap up potential rivals, keep smaller competitors at bay and maintain an illegal monopoly.
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Meta’s chief legal officer, Jennifer Newstead, described the FTC’s case as weak and unrealistic in a Sunday statement.
Zuckerberg denies FTC claims of Meta monopoly in antitrust trial
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The Meta CEO acknowledged that he was concerned about the scale that Instagram and other mobile apps were achieving but that there were other factors.
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If the FTC is ultimately successful in its efforts to break up Meta, it would be the first time in 40 years that the agency would have forced a corporate breakup.
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Summary
In an ongoing antitrust trial, Mark Zuckerberg defended Meta's acquisitions of Instagram and WhatsApp against FTC claims of illegal monopolistic behavior. Zuckerberg's testimony highlighted his motivations in acquiring Instagram, which he described as a competitive but innovative platform, despite internal emails suggesting concerns about its growth. The FTC argues that these acquisitions aimed to stifle competition, while Meta asserts that they operate within a highly competitive landscape, facing rivals like TikTok and YouTube. With potential consequences for Meta's business model and advertising revenue, the trial is a pivotal moment in Big Tech regulation.
Perspectives
Zuckerberg's testimony during the trial is framed as evasive, with questions about Meta's acquisitions raising concerns over potential monopolistic practices.
The trial centers around the FTC's argument that acquisitions were aimed at eliminating competition, with Meta maintaining that it operates in a competitive environment with significant rivals like TikTok and YouTube.
The implications of the trial could reshape Meta's business structure, especially regarding its integration of services like Instagram and WhatsApp, potentially affecting the company's future direction.
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