Mark Zuckerberg testified in a landmark antitrust trial to defend Meta against allegations of running a social media monopoly, according to the BBC. The FTC’s case accuses Meta of monopolizing the market through its acquisitions of Instagram and WhatsApp. The FTC aims to break up Meta by spinning off Instagram or WhatsApp, while Meta argues it faces strong competition from TikTok, X, and YouTube. The FTC cited emails from Zuckerberg expressing concern about Instagram’s rapid growth and Meta’s competitive lag. Zuckerberg defended his statements on the stand and said those were early discussions.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Mark Zuckerberg testified in a landmark antitrust trial to defend Meta
00:05against allegations of running a social media monopoly, according to the BBC.
00:10The FTC's case accuses Meta of monopolizing the market
00:12through its acquisitions of Instagram and WhatsApp.
00:15The FTC aims to break up Meta by spinning off Instagram or WhatsApp,
00:19while Meta argues it faces strong competition from TikTok, X, and YouTube.
00:23The FTC cited emails from Zuckerberg expressing concern about Instagram's rapid growth
00:27and Meta's competitive lag.
00:29Zuckerberg defended his statements on the stand and said those were early discussions.
00:34For all things money, visit Benzinga.com slash GSTV.