In a high-stakes antitrust trial that began Monday in Washington, D.C., the Federal Trade Commission called on Meta Platform, Inc. (NASDAQ:META) to divest Instagram and WhatsApp, alleging these deals formed part of an illegal “buy or bury” strategy to monopolize social networking.
The Details: Prosecutors highlighted a 2008 email in which Meta CEO Mark Zuckerberg reportedly stated it was “better to buy than compete,” framing the Instagram purchase as a tactic to neutralize a rising competitor.
Zuckerberg testified for three hours on the trial’s first day and argued that Meta’s acquisitions …Full story available on Benzinga.com
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