In a landmark antitrust trial against Meta Platforms, Mark Zuckerberg, the CEO, testified for a second day, explaining that it was difficult to build new apps, which was why he bought Instagram and WhatsApp. The trial, being held in the U.S. District Court for the District of Columbia, focuses on whether Meta used a “buy-or-bury” strategy to eliminate competition by acquiring rival companies.
The Federal Trade Commission (FTC) is asking the judge to find Meta guilty and potentially break up the company by selling off Instagram and WhatsApp. The government’s aim is to rein in the power of large tech companies like Meta, in line with other antitrust actions taken against companies such as Amazon and Google.
During the trial, Mr. Zuckerberg faced questioning about internal communications that preceded the acquisitions of Instagram and WhatsApp. The communications detailed concerns about competition from other social media platforms, as well as candid thoughts on employee performance and potential acquisitions.
The trial also revealed emails from Mr. Zuckerberg discussing the need to block foreign competitors from advertising on Facebook, indicating a strategy to maintain dominance in the social networking space. Mr. Zuckerberg’s testimony is crucial in determining whether Meta engaged in anticompetitive behavior.
Legal experts have noted that the FTC may face challenges in proving its case, especially considering that the Instagram and WhatsApp acquisitions were approved at the time they took place. The trial is part of a broader effort by U.S. regulators to address the power of tech giants and ensure a competitive landscape in the industry.
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