""continues to insist that Meta competes with the same old rivals it has for the last decade, that the company holds a monopoly among that small set, and that it maintained that monopoly through anticompetitive acquisitions," Boasberg wrote in his ruling. "Whether or not Meta enjoyed monopoly power in the past, though, the agency must show that it continues to hold such power now. The Court's verdict today determines that the FTC has not done so.""
""expressed in 2008: 'It is better to buy than compete.' True to that maxim, Facebook has systematically tracked potential rivals and acquired companies that it viewed as serious competitive threats.""
A U.S. district judge found that Meta does not currently hold monopoly power in social networking and declined the FTC's request for divestiture of Instagram and WhatsApp. The ruling followed a historic antitrust trial that concluded in late May and comes after separate court findings that Google holds illegal monopolies in search and online advertising. The court said the FTC failed to show continued monopoly power. The FTC argued Meta pursued a buy-over-compete strategy, citing Mark Zuckerberg's 2008 maxim and internal documents, while Zuckerberg disputed the characterization of those records during testimony.
Read at Fast Company
Unable to calculate read time
Collection
[
|
...
]