Meta CEO Mark Zuckerberg faced intense questioning from the Federal Trade Commission (FTC) on the second day of a major antitrust trial. The FTC alleges that Meta, the parent company of Facebook, Instagram, and WhatsApp, has illegally monopolized the social media market. The core of the FTC's argument revolves around Meta's acquisitions of potential competitors like Instagram and WhatsApp.
During his testimony, Zuckerberg defended these acquisitions, arguing that they were approved by regulators at the time and have ultimately benefited consumers. He maintained that Meta operates in a highly competitive landscape with numerous other social media platforms vying for users' attention. Zuckerberg emphasized Meta's investments in innovation and its commitment to providing users with valuable services.
The FTC presented evidence suggesting that Meta acquired these companies to eliminate competition and maintain its dominant market position. The trial is expected to last several weeks, with both sides presenting expert witnesses and evidence to support their claims. The outcome of the trial could have significant implications for the future of the social media industry and the regulation of tech giants.
Zuckerberg Defends Meta Against FTC Monopoly Claims in Court
Meta CEO Mark Zuckerberg testified for a second day in a landmark antitrust trial. The Federal Trade Commission (FTC) argues that Meta illegally controls the social media market through acquisitions. Zuckerberg defended Meta's business practices, stating they foster competition and innovation. The trial is expected to continue for several weeks.
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