The Federal Trade Commission has initiated a significant antitrust trial against Meta Platforms, Inc., requesting the company to divest its ownership of Instagram and WhatsApp. This move is grounded in accusations that these acquisitions were part of a strategy to monopolize the social networking space. The trial has garnered attention due to statements made by Meta CEO Mark Zuckerberg, who argued that acquisitions were essential for meeting user needs in a competitive market alongside emerging rivals like TikTok and YouTube Shorts. Former FTC Chair Lina Khan emphasized the importance of maintaining fair competition in the industry.
In December 2008, I was confident competitors were emerging but thought it was better to buy than compete, as it would neutralize the threat.
The acquisitions of Instagram and WhatsApp were crucial to adapting to evolving user preferences, emphasizing our strategy at Meta in a changing market.
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