Zuckerberg defends Meta under oath in federal court
a year ago
- #Meta
- #Antitrust
- #FTC
- Mark Zuckerberg testified in court defending Meta against FTC monopoly claims.
- FTC alleges Meta's acquisitions of Instagram and WhatsApp were to eliminate competition.
- Zuckerberg evaded questions about Instagram being an existential threat before acquisition.
- Internal emails suggest Meta bought Instagram to 'neutralize a competitor'.
- Zuckerberg claimed the purchase was due to Instagram's superior product, not just competition.
- FTC argues Meta's 'buy or bury strategy' stifled rivals and maintained monopoly power.
- Meta counters that it faces competition from platforms like TikTok, YouTube, and Snap.
- If ordered to divest Instagram and WhatsApp, Meta's ad revenue could be severely impacted.
- The trial is expected to last two months, with key witnesses including Sheryl Sandberg and Adam Mosseri.
- Former FTC Chair Lina Khan expressed concerns about political interference in the case.