The antitrust trial against Meta Platforms Inc. is ongoing, with CEO Mark Zuckerberg testifying. The FTC claims Meta gained monopoly power in personal social networking by acquiring rivals. They argue this was to stifle competition, referring to a "buy-or-bury strategy," and may seek to force divestitures of Instagram and WhatsApp if victorious. Meta contends the FTC improperly defined the relevant market, excluding rivals like TikTok and YouTube, and argues past regulatory approvals support their acquisitions. Zuckerberg's testimony highlighted the broader role of Meta in entertainment and information discovery, beyond just social connections.
One cited in court was from 2011, where the CEO told other executives that "mobile photos ... will increasingly be a part of social networking" and that Instagram was "an innovative business model that could be detrimental to Facebook's growth."
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