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The 2006 Zuckerberg quote at the center of Meta's antitrust trial
Economic Times
·
2m 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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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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Mark Zuckerberg offered $1 billion to settle FTC antitrust case
Economic Times
·
3m ago
Medial
Mark Zuckerberg reportedly offered up to $1 billion to settle an antitrust case with the US Federal Trade Commission (FTC), which alleges Meta's acquisitions of Instagram and WhatsApp were anti-competitive. The FTC rejected the offer, demanding at least $18 billion and seeking to dismantle Meta's monopoly. Former FTC Chair Lina Khan criticized the settlement offer as inadequate. Despite the negotiations, the trial commenced, marking a critical moment for Meta amidst significant legal challenges.
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What if Mark Zuckerberg had not bought Instagram & WhatsApp?
Economic Times
·
3m ago
Medial
In 2012, Facebook CEO Mark Zuckerberg surprised many by buying Instagram for $1 billion, followed by acquiring WhatsApp for $19 billion in 2014, despite skepticism over the prices. These deals are now considered monumental in Silicon Valley history. An ongoing antitrust trial challenges whether these acquisitions were monopolistic, exploring hypothetical scenarios of alternate buyers. While the purchases significantly bolstered Meta's business, the case underscores the unpredictable nature of tech industry developments.
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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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Meta denied resources, fearing the Instagram’s success: Cofounder Kevin Systrom
Economic Times
·
2m ago
Medial
Kevin Systrom, Instagram co-founder, testified in a federal antitrust trial that Meta, under Mark Zuckerberg, limited Instagram’s resources, perceiving it as a competitive threat. The government claims Meta's acquisition strategy aimed to maintain its monopoly by eliminating rivals. Systrom, contradicting Zuckerberg's assertion of investment, noted Instagram's insufficient growth support compared to Facebook. Despite praising Meta previously, Systrom argued Instagram's potential was curtailed, contrasting Zuckerberg's testimony on facilitating Instagram's growth post-acquisition.
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Mark Zuckerberg repeats Trump visits in bid to settle antitrust case
Economic Times
·
3m 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
·
2m 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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ETtech Explainer: Google’s second big antitrust trial in US
Economic Times
·
10m ago
Medial
The US Department of Justice (DoJ) is set to face Google in its second major antitrust trial, focused on the tech giant's monetization strategies for advertising. The DoJ argues that Google's practices are unfairly harming the industry. This trial is part of a broader push by President Biden's administration to regulate Big Tech using antitrust laws. The case follows a recent ruling that found Google had illegally monopolized online search. The trial will center on Google's adtech business, which accounts for the majority of its revenue, and the DoJ's claims that the company has engaged in monopolistic behavior.
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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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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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