Mark Zuckerberg, CEO of Meta, provided testimony in a significant antitrust trial initiated by the FTC, which alleges that Meta's acquisitions of Instagram and WhatsApp breach competition laws. As the first witness, Zuckerberg emphasized the evolution of Facebook beyond mere social connectivity to a more expansive entertainment platform. The FTC contends that Meta's acquisition strategy was aimed at suppressing competition, encompassing Zuckerberg's previous assertion, 'It is better to buy than compete,' leading to monopolistic practices that have generated substantial profits.
The US government on Monday put Mark Zuckerberg on the witness stand as it faced off against Meta in a landmark antitrust trial that could result in the break up of the tech titan's social media empire.
Zuckerberg testified that Facebook has greatly evolved since he launched the platform more than 20 years ago and that its main purpose isn't really to connect with friends anymore.
Meta has maintained its monopoly position 'in significant part' by pursuing Zuckerberg's strategy outlined in an internal 2008 email in which the CEO wrote, 'It is better to buy than compete.'
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