Mark Zuckerberg, CEO of Meta, testified in a pivotal antitrust trial where the Federal Trade Commission argued that Meta’s acquisitions of Instagram and WhatsApp created a social media monopoly. The government presented dated emails to push Zuckerberg to defend his acquisition strategy. Zuckerberg, the first witness, emphasized early thinking and investments in Instagram post-acquisition.
The trial, known as Federal Trade Commission v. Meta Platforms, is the first antitrust case since the Trump administration. The F.T.C. alleges Meta’s acquisitions were part of a “buy-or-bury strategy,” while Meta’s lawyers argue the company faces competition from other platforms like TikTok. The threatened breakup of Meta could change Silicon Valley’s business practices.
Legal experts caution the F.T.C. may face challenges in proving Meta wouldn’t have succeeded without acquisitions. The case continues the fight to curb tech companies’ vast power, with previous antitrust wins against Google. This high-profile trial with 3.5 billion users logging onto Meta platforms daily will be closely watched. Zuckerberg’s testimony focused on evolving social networking and the need for Meta to compete.
The trial’s outcome will have wide-reaching implications for tech regulation and competition within the industry. The F.T.C.’s argument rests on the Sherman Antitrust Act and a paper trail of emails showing Meta’s concerns over Instagram and WhatsApp as potential threats. Zuckerberg, along with Sheryl Sandberg and Kevin Systrom, continue to testify as the trial proceeds. If successful, the F.T.C. could potentially require Meta to divest Instagram and WhatsApp, marking a significant shift in how big tech does business.
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