Overview

• Mark Zuckerberg testified for three days, denying allegations that Meta acquired Instagram and WhatsApp to eliminate competition, emphasizing their value and growth potential.
• The FTC rejected Zuckerberg’s settlement offers of up to $1 billion, demanding $18 billion and a consent decree to address alleged monopolistic practices.
• Zuckerberg acknowledged TikTok as Meta’s most significant competitive threat, highlighting its impact on Instagram and Facebook’s growth in recent years.
• Internal documents revealed that Zuckerberg considered spinning off Instagram in 2018 due to antitrust concerns and believed companies often perform better post-breakup.
• The trial, which could result in Meta being forced to divest its acquisitions, continues with testimony from other key figures, including former COO Sheryl Sandberg.