The US Federal Trade Commission is launching a long-awaited antitrust case against Meta Platforms Inc., alleging that the company illegally monopolized the social media landscape by acquiring Instagram and WhatsApp. During the court proceedings, FTC lawyers emphasized a century-old principle advocating for competition in markets that they claim Meta has violated. The outcome could result in significant changes, including the possibility of separating these platforms from Meta, which may disrupt major applications and impact the company's valuation. The case also raises critical questions regarding government scrutiny of future corporate mergers in tech.
The FTC argues that Meta has illegally monopolized the social media market by acquiring Instagram and WhatsApp, threatening the principles of a competitive marketplace.
Daniel Matheson, the FTC's lead trial lawyer, stated that Meta violated over 100 years of American public policy intended to ensure competition in the marketplace.
A potential ruling against Meta could lead to the spinoff of Instagram and WhatsApp, significantly disrupting their integration and impacting hundreds of billions in market value.
FTC Chair Andrew Ferguson emphasizes that antitrust laws are crucial to prevent any private sector entity from becoming too powerful and negatively affecting American lives.
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