FTC Begins Antitrust Trial Against Meta Over Acquisitions

The Federal Trade Commission (FTC) has initiated a high-stakes antitrust lawsuit against Meta, claiming the company illegally acquired Instagram and WhatsApp to stifle competition in the social media market. CEO Mark Zuckerberg is testifying as the trial unfolds, which could lead to Meta being forced to divest these platforms. The FTC argues that Meta's acquisitions have resulted in decreased quality options for consumers and that the company maintains a monopoly over personal social networking, with Snapchat as its only significant competitor. Meta, however, contends that its market is much broader, including platforms like TikTok and YouTube, and describes the FTC's case as weak and harmful to innovation. The legal battle has raised questions about the future of major tech companies and their market practices, with implications for antitrust enforcement under the current administration. The outcome could set a precedent for how regulators approach acquisitions in the tech industry.