Meta CEO Mark Zuckerberg completed his statement in a historic antitrust trial on Wednesday. He clarified in court that his purpose in buying Instagram and WhatsApp was not to destroy these companies, but they were acquired considering the possibilities present in them.
"I should know what is going on in the world"
During the third day of testimony, Zuckerberg said, "My job is to understand what is new in the market and motivate our team to work rapidly in that direction." He also said that analyzing the competition is necessary for any innovative company.
Was he afraid of Instagram's popularity?
The Federal Trade Commission (FTC) claimed that Zuckerberg was scared of Instagram's rapidly growing popularity and hence he decided to buy the company. To this, Zuckerberg replied that he aimed to run Instagram as an independent brand, not to destroy it.
The FTC also alleges that by buying WhatsApp, Meta tried to eliminate competition. Zuckerberg admitted that he understood the power of WhatsApp, but the purpose of the purchase was that it was an important and valuable app that was used a lot.
Tough competition from TikTok and YouTube
Meta's lawyer Mark Hansen said that Meta is still facing tough competition from companies like TikTok and YouTube. Zuckerberg also admitted that people spend more time on YouTube than on both Facebook and Instagram.
The FTC is trying to prove in this lawsuit that Meta created an illegal monopoly in social media by buying Instagram and WhatsApp. If the FTC wins the case, Meta may have to separate these two companies.
Years an old case, now in court
This case was registered in the year 2020 when the FTC filed a lawsuit against Meta (then Facebook) during the tenure of former US President Donald Trump. US District Judge James Bosberg is hearing this case in court.
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