Mark Zuckerberg was seen speaking out in favor of his company’s decision to use the buy or bury strategy that was designed to crush rivals in the market. This FTC trial has to do with Facebook’s parent firm taking Instagram and WhatsApp under its wing.
The landmark antitrust case is seeking to potentially break up the tech giant as the FTC accuses Meta of using monopoly behavior to its benefit. This ultimately allowed the firm to wipe out other rivals that were a substantial threat to the organization.
The billionaire was witnessed landing in the hot seat in DC, where one witness mentioned Zuckerberg’s smart tactics to remove any arch-rivals that came in the company’s way to success.
Meta’s CEO took a step back from the FTC’s accusations, adding that he didn’t spend billions to remain in the dominant position. Instead, he shared his thoughts on helping two smaller-scale organizations grow and build to be bigger entities. By doing so, Facebook’s parent firm was truly left with only two small competitors, which inch Snapchat and MeWe. TikTok was there too, but in a different domain.
Zuckerberg said that it wasn’t only the app’s friends and family sharing feature that transformed into a major priority, but also others like discovering content. The agency was doing everything to add more pressure and restructure the apps. They were seen testing the president’s promises to take on Big Tech while posing as a firm that earns a whopping amount of ad revenue through Instagram alone.
Now, it’s up to the FTC to determine whether or not it can convince the judge convinced about the trials about Meta’s market trials. For now, the company did share how it’s not correct for the FTC to not consider the massive competition it faces from social media giants like TikTok, YouTube, and more.
The Facebook CEO was given nearly seven hours of trial time, and that’s so much greater than other witnesses involved, as per court filings in the past. Now, the billionaire is being given the chance to return in a few days and then turn to greater grilling episodes related to emails he shared with executives.
The incident has already caused shares to fall 2% yesterday during trading hours. So far, the FTC is convinced that these moves were made to ensure no one could come to clear Meta’s dominance, and it is working.
The opposing side’s argument remains that by purchasing such big apps, Meta made sure users didn’t have any other better alternative to relate to, so they had to go to Meta. Facebook bought Instagram for nearly $1 billion in the year 2012, while WhatsApp was bought for $19 billion in 2014. Both deals got a stamp of approval from then-President Obama and the FTC.
Image: DIW-Aigen
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The landmark antitrust case is seeking to potentially break up the tech giant as the FTC accuses Meta of using monopoly behavior to its benefit. This ultimately allowed the firm to wipe out other rivals that were a substantial threat to the organization.
The billionaire was witnessed landing in the hot seat in DC, where one witness mentioned Zuckerberg’s smart tactics to remove any arch-rivals that came in the company’s way to success.
Meta’s CEO took a step back from the FTC’s accusations, adding that he didn’t spend billions to remain in the dominant position. Instead, he shared his thoughts on helping two smaller-scale organizations grow and build to be bigger entities. By doing so, Facebook’s parent firm was truly left with only two small competitors, which inch Snapchat and MeWe. TikTok was there too, but in a different domain.
Zuckerberg said that it wasn’t only the app’s friends and family sharing feature that transformed into a major priority, but also others like discovering content. The agency was doing everything to add more pressure and restructure the apps. They were seen testing the president’s promises to take on Big Tech while posing as a firm that earns a whopping amount of ad revenue through Instagram alone.
Now, it’s up to the FTC to determine whether or not it can convince the judge convinced about the trials about Meta’s market trials. For now, the company did share how it’s not correct for the FTC to not consider the massive competition it faces from social media giants like TikTok, YouTube, and more.
The Facebook CEO was given nearly seven hours of trial time, and that’s so much greater than other witnesses involved, as per court filings in the past. Now, the billionaire is being given the chance to return in a few days and then turn to greater grilling episodes related to emails he shared with executives.
The incident has already caused shares to fall 2% yesterday during trading hours. So far, the FTC is convinced that these moves were made to ensure no one could come to clear Meta’s dominance, and it is working.
The opposing side’s argument remains that by purchasing such big apps, Meta made sure users didn’t have any other better alternative to relate to, so they had to go to Meta. Facebook bought Instagram for nearly $1 billion in the year 2012, while WhatsApp was bought for $19 billion in 2014. Both deals got a stamp of approval from then-President Obama and the FTC.
Image: DIW-Aigen
Read next:
• TikTok Users in U.S. Spend 108 Minutes Daily, Surpassing All Other Social Media Platforms
• The Latest Android Phone Unlock Guide For 2025
• Survey: 32% of Consumers Want Human Responses Within an Hour from Brands on Social Media
