Mark Zuckerberg defends Meta’s social media acquisitions in first day of antitrust trial | CNN Business

Meta's Antitrust Trial

Meta CEO Mark Zuckerberg testified in a Federal Trade Commission (FTC) antitrust trial, defending Meta's acquisitions of Instagram and WhatsApp. The FTC alleges that these acquisitions were intended to stifle competition and establish a monopoly in the social media market.

Zuckerberg's Testimony

Zuckerberg's testimony focused on explaining the rationale behind the acquisitions. He argued that the acquisitions were not anti-competitive, and that Meta faces significant competition in the social media space.

• He highlighted Meta's 3.3 billion daily users across its platforms as a key selling point for its advertising business.
• He addressed an email from 2011 where he acknowledged Instagram as a growing competitor.
• He discussed the evolution of Facebook's features, acknowledging a shift from a focus on friend connections to incorporating more third-party content and messaging features.
• He stated that messaging features are “symbiotic” to Facebook’s larger offerings.

The FTC presented evidence suggesting that the acquisitions were intended to prevent competition, including emails referencing concerns about competing platforms and strategies to maintain cultural relevance.

Potential Outcomes

If the FTC wins the case, Meta could be forced to divest itself of WhatsApp and Instagram, significantly altering the social media landscape.