Overview

• Mark Zuckerberg testified for a second day in the FTC's antitrust trial, defending Meta's acquisitions of Instagram and WhatsApp as necessary to address market shifts and competition.
• The FTC presented internal emails, including a 2008 message where Zuckerberg stated 'it is better to buy than compete,' to support its claim that Meta sought to neutralize competitors.
• Zuckerberg admitted Instagram's camera technology was superior to Facebook's at the time of acquisition, emphasizing the difficulty of building successful apps in-house.
• The FTC is pushing for the divestiture of Instagram and WhatsApp, which would significantly impact Meta’s ad revenue and reshape its business structure.
• Meta argues it faces robust competition from platforms like TikTok and YouTube, challenging the FTC's narrow definition of the social networking market.