The U.S. Federal Trade Commission has initiated an antitrust trial against Meta, accusing the company of establishing an illegal monopoly in the personal social networking market. CEO Mark Zuckerberg was the first witness and was questioned about significant acquisitions of Instagram and WhatsApp. The FTC claims these purchases were part of a strategy to suppress competition and maintain market dominance. Zuckerberg argued that the emails presented as evidence were reflective of initial discussions focused more on technology acquisition than on eliminating a competitive threat. The trial is expected to last several weeks with more testimonies to come.
During the trial, the FTC accused Meta of establishing an illegal monopoly through acquisitions, particularly highlighting the purchases of Instagram and WhatsApp as anti-competitive moves.
Mark Zuckerberg defended Meta's acquisitions stating they were necessary for technological advancement rather than to eliminate competition, arguing that Instagram was initially targeted for its camera capabilities.
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