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Meta faces historic antitrust trial that could force it to break off Instagram, WhatsApp
Economic Times
·
3m ago
Medial
Meta Platforms Inc. faces a historic antitrust trial that could force it to separate Instagram and WhatsApp, accusing it of maintaining an illegal monopoly. The trial challenges Meta's acquisition strategy under antitrust scrutiny, arguing it hindered competition. While Meta contests the narrow market definition used by the FTC, the trial's outcome could significantly impact Meta's business, particularly its advertising revenues, and test the FTC's ability to regulate big tech in dynamic markets.
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Mark Zuckerberg takes stand to defend Meta against antitrust suit
Economic Times
·
3m ago
Medial
Mark Zuckerberg appeared in court to defend Meta in an antitrust trial aiming to potentially dismantle the company. The Federal Trade Commission (FTC) claims Meta created a social media monopoly with acquisitions of Instagram and WhatsApp, using a "buy-or-bury" strategy against competitors. Zuckerberg argued Meta still faces competition from platforms like TikTok. A successful FTC case may force Meta to divest its acquisitions, significantly impacting its business operations and altering Silicon Valley merger practices.
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At US antitrust trial, Meta's Mark Zuckerberg admits he bought Instagram because it was 'better'
Economic Times
·
3m ago
Medial
Meta CEO Mark Zuckerberg, during a US antitrust trial, admitted he purchased Instagram due to its superior camera, unveiling it as a strategic acquisition to outpace a potential rival. This admission supports US antitrust enforcers' claim that Meta engages in a "buy or bury" tactic to maintain a monopoly. The trial, initiated in the Trump era, challenges Meta's acquisition of Instagram and WhatsApp, amidst intensified competition from TikTok, YouTube, and Apple’s messaging app.
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US prepares to challenge Meta's social media dominance
Economic Times
·
3m ago
Medial
The U.S. is challenging Meta's dominance in social media with a landmark antitrust case, beginning in Washington, D.C. The Federal Trade Commission argues that Meta illegally maintained its monopoly by acquiring competitors like Instagram and WhatsApp. A multi-week trial could reshape antitrust laws and affect tech mergers. While Meta claims ample competition, the outcome may set a precedent for future antitrust actions, impacting tech giants' acquisitions and market control in the U.S.
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Meta asks judge to rule that FTC failed to prove its monopoly case
Economic Times
·
2m ago
Medial
Meta Platforms has requested a federal judge to dismiss the FTC's allegation of an illegal social media monopoly, stating the agency failed to substantiate its case during the ongoing antitrust trial in Washington. The FTC claims Meta, formerly Facebook, used acquisitions of Instagram and WhatsApp to stifle competition. Meta argues the FTC hasn't proven this, presenting evidence that these platforms didn't hinder competition. If the judge agrees, it could expedite the case's resolution.
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ETtech Explainer: Why the US government wants to break up Meta
Economic Times
·
3m ago
Medial
Meta Platforms is facing a major antitrust case by the United States Federal Trade Commission (FTC), which accuses it of buying Instagram and WhatsApp to eliminate competition and maintain a monopoly. The FTC argues these acquisitions stifled innovation and consumer choices. Meta, led by Mark Zuckerberg, denies these claims, asserting the acquisitions were legal at the time and that it faces significant competition. The case could lead to Meta being forced to divest these platforms.
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The 2006 Zuckerberg quote at the center of Meta's antitrust trial
Economic Times
·
3m ago
Medial
In the landmark antitrust trial against Meta, formerly Facebook, a pivotal question is whether social media is about real connections or broader interactions. The trial challenges Meta's dominance, scrutinizing its acquisitions of Instagram and WhatsApp for stifling competition. While Meta argues they compete with all social media, the FTC asserts it's only platforms connecting friends. Defining Meta's place in the social media landscape will significantly impact future tech market dynamics and antitrust enforcement.
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Meta asks court to dismiss FTC’s monopoly claims
The Verge
·
1y ago
Medial
Meta has asked a federal court to dismiss the Federal Trade Commission's (FTC) antitrust lawsuit against it, claiming that the FTC has failed to provide evidence supporting its claims. Meta argues in its motion for summary judgment that the FTC cannot prove the relevant market or demonstrate that its acquisitions of Instagram and WhatsApp have harmed consumers. The court will hear the FTC's response before deciding whether to proceed with the case. If the judgment favors Meta, the lawsuit could come to an end; otherwise, a trial may be scheduled. Meta argues that the FTC's challenge to its mergers could have negative consequences for innovation.
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Mark Zuckerberg repeats Trump visits in bid to settle antitrust case
Economic Times
·
4m ago
Medial
Meta CEO Mark Zuckerberg has been meeting with President Donald Trump to encourage a settlement in an antitrust case filed by the Federal Trade Commission. The case, set to go to trial on April 14, 2024, challenges Meta's acquisitions of Instagram and WhatsApp, alleging they were attempts to eliminate competition. Zuckerberg's lobbying efforts have included frequent visits and strategic corporate policy changes. The outcome could require Meta to divest these platforms, although a decision is pending.
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At Meta's landmark trial, a stroll through a graveyard of dead apps
Economic Times
·
3m ago
Medial
The antitrust trial against Meta features Mark Zuckerberg and former executives reflecting on past competitive concerns and acquisitions like Instagram and WhatsApp. The trial revisits the early days of social apps, highlighting apps that worried Zuckerberg, many now defunct. It underscores the challenges of evaluating past decisions in the fast-evolving tech landscape, where the focus has shifted from social networking to AI and other technologies. Witnesses often struggled to recall decisions made over a decade ago.
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The US wants to break up Google and Meta: That could be hard
Economic Times
·
3m ago
Medial
The U.S. courts are revisiting the idea of breaking up major tech companies, as they did with Microsoft decades ago. Currently, the Federal Trade Commission is targeting Meta, seeking to force it to divest Instagram and WhatsApp, claiming it holds an illegal social media monopoly. Similarly, the Justice Department is challenging Google's search monopoly, suggesting it sell Chrome or spin off Android. While breakups can be effective, their long-term competitive impact is uncertain.
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