""Meta has maintained its dominant position and record profits for well over a decade not through legitimate competition, but by buying its most significant competitive threats," the FTC's Bureau of Competition Director Daniel Guarnera said in a statement. "The Trump-Vance FTC will continue fighting its historic case against Meta to ensure that competition can thrive across the country to the benefit of all Americans and U.S. businesses.""
"The FTC originally filed antitrust charges against Facebook in 2020 during President Donald Trump's first term in office. The government argued that by acquiring apps it once competed with, Instagram and WhatsApp, the company had depressed competition in the space and ultimately hurt consumers. A trial last year saw testimony from several current and former executives, including CEO Mark Zuckerberg and former COO Sheryl Sandberg, who spoke at length about the pressure to compete with TikTok."
Federal regulators lost a trial finding Meta is not currently a monopoly, but the FTC is appealing to challenge Meta's historic acquisitions of Instagram and WhatsApp. The FTC contends Meta maintained dominance and record profits by buying significant competitive threats rather than through legitimate competition. The agency's Bureau of Competition director said the "Trump-Vance FTC" will continue fighting the historic case to ensure competition thrives across the country. A federal judge found competition from YouTube and TikTok undermines a current monopoly claim. If the appeal succeeds, remedies could include forced divestiture of Instagram and WhatsApp. The case began with charges filed in 2020 and included testimony from Mark Zuckerberg and other executives about competitive pressures.
Read at Engadget
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