World News

Zuckerberg Defends Meta's Acquisitions in Antitrust Trial

Meta CEO Mark Zuckerberg testified in a landmark antitrust trial in Washington, D.C., defending the company's acquisitions of Instagram and WhatsApp. The Federal Trade Commission (FTC) alleges that Meta, formerly Facebook, engaged in a "buy or bury" strategy to eliminate competition and maintain a monopoly in the social networking market.​

 

During his testimony, Zuckerberg acknowledged that acquiring Instagram removed a competitor but argued that the acquisition added significant value to the platform. He emphasized that Meta's integration of Instagram enhanced user experience and platform growth, asserting that the social networking market is dynamic and includes competitors like TikTok, YouTube, and iMessage.​

 

The FTC presented internal communications, including 2012 messages between Zuckerberg and former COO Sheryl Sandberg, highlighting concerns about Instagram's rapid growth and its potential as a competitive threat. The agency contends that such acquisitions have harmed consumers by reducing innovation and increasing advertising.​

 

Zuckerberg countered that Meta's actions were strategic moves to stay relevant in an evolving social media landscape. He also revealed internal strategic ideas, such as spinning off Instagram and acquiring Snapchat, to illustrate the company's efforts to innovate and compete.​

 

The trial, presided over by U.S. District Judge James Boasberg, could result in Meta being forced to divest Instagram and WhatsApp, potentially reshaping the tech industry. The case is expected to last up to eight weeks, with further testimony from other Meta executives anticipated.