US EditionLandmark antitrust trial could force Zuckerberg to sell Instagram
- Meta's CEO Mark Zuckerberg appeared in court to defend the company against a lawsuit claiming it monopolized the social media market by acquiring Instagram and WhatsApp, as filed by the Federal Trade Commission .
- The FTC argues that Meta locks out competition, stating it has about 80% of active users in personal social networking services, excluding other major platforms like TikTok and YouTube.
- During the trial, Zuckerberg acknowledged concerns regarding Instagram's growth, stating it was a 'rapidly growing, threatening network', but he also defended the acquisitions as necessary for innovation.
- The case represents a major challenge for the FTC, with implications for Big Tech regulation, as U.S. District Judge James Boasberg oversees the proceedings.
146 Articles
146 Articles
Meta CEO Mark Zuckerberg testifies in antitrust trial
Meta CEO Mark Zuckerberg will take the stand Tuesday in a D.C. courtroom for a second round of testimony in an antitrust trial over his social media company. The federal government alleges the Facebook parent company bought up competing apps to create a monopoly.
Meta’s Mark Zuckerberg admits buying ‘Instagram’ because it was ‘better’ during grilling at landmark FTC trial
Meta’s Mark Zuckerberg conceded Tuesday that he bought Instagram because it was “better” than Facebook’s own camera app – a potentially major admission on the second day of the FTC’s landmark trial to break up the social media giant.
Mark Zuckerberg Tries To Downplay FTC’s Key “Smoking Gun” Evidence In Meta Antitrust Trial
Mark Zuckerberg today was confronted with what government attorneys characterized as a “smoking gun” in their antitrust case against Meta: An email exchange in which he discussed the company’s rationale for purchasing other companies as a way to “neutralize a potential competitor.” At the time, Meta had its eyes on fast-growing Instagram, and Zuckerberg and the company’s then CFO, David Ebersman, were having an exchange over the potential bene…
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