Mark Zuckerberg testified in a significant antitrust trial accusing Meta of monopolistic behavior through the acquisition of Instagram and WhatsApp. The case, led by the FTC, questions whether these acquisitions were attempts to eliminate competition. While Zuckerberg has lobbied for a settlement, the trial reflects broader issues over Big Tech's market dominance. The outcome may require Meta to divest valuable assets, reshaping the landscape of social media. The trial commenced amidst expectations of reduced government scrutiny due to Trump's possible re-election.
They decided that competition is too hard and it would be easier to buy out their rivals than to compete with them, said FTC attorney Daniel Matheson.
Acquisitions to improve and grow an acquired firm are not unlawful in the United States and that is what Meta, then called Facebook, did, countered Meta attorney Mark Hansen.
Zuckerberg, the world's third-richest person, has made repeated visits to the White House as he tries to persuade the US leader to choose settlement instead of fighting the trial.
The case against Meta was originally filed in December 2020, during the first Trump administration, and all eyes were on whether he would ask the FTC to stand down.
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