The Federal Trade Commission (FTC) has initiated a groundbreaking antitrust trial against Meta, accusing the tech giant of monopolistic practices stemming from its acquisitions of Instagram and WhatsApp. The FTC contends these actions constituted a strategy to eliminate competition and concentrate power, thereby limiting consumer choices in social networking. Lead litigator Daniel Matheson argued that Meta chose to stifle competition through acquisitions rather than compete fairly. Should the FTC prevail, it could force Meta to divest from its major acquisitions, significantly impacting its business operations and the technology landscape.
The trial Federal Trade Commission v. Meta Platforms poses the most consequential threat to the business empire of Mark Zuckerberg, the company's co-founder.
The reason we are here is that Meta broke the deal. They decided that competition was too hard and it would be easier to buy out their rivals than to compete with them.
Ultimately, the purchases coalesced Meta's power, depriving consumers of other social networking options and edging out competition, the government said.
For more than 100 years, American public policy has insisted firms must compete if they want to succeed.
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