In a landmark antitrust trial, Mark Zuckerberg testified that TikTok has become a significant competitor to Meta's platforms, specifically in the realm of social networking. During his third day on the stand, Zuckerberg stated that TikTok represents a competitive threat not seen in several years, leading Meta to enhance its features like Reels to keep up. The Federal Trade Commission is challenging Meta's prior acquisitions and asserting that these moves were aimed at eliminating competition. Judge James E. Boasberg's ruling will determine if Meta's actions violated antitrust laws, affecting the company's future significantly.
"The fast growth of TikTok is probably the highest competitive threat for Instagram and Facebook over the last few years," said Mark Zuckerberg during his testimony.
"Users continue to engage more on TikTok than with my apps," said Zuckerberg, highlighting TikTok's dominant position in the social networking landscape.
Zuckerberg emphasized that Meta's introduction of Reels in response to TikTok is indicative of the serious competition they face in social media.
Judge James E. Boasberg will determine whether Meta's acquisitions and strategies violated antitrust laws, with the government seeking a potential breakup.
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