Overview

• Mark Zuckerberg testified for a second day in Washington, D.C., defending Meta's acquisitions of Instagram and WhatsApp against allegations of monopolistic practices.
• Zuckerberg admitted that Instagram was purchased because it had a superior camera compared to Facebook's in-house efforts, as part of a 'build vs. buy' analysis.
• Internal documents revealed Zuckerberg considered spinning off Instagram in 2018, anticipating potential antitrust scrutiny and political pressures to break up tech giants.
• The FTC alleges that Meta employed a 'buy or bury' strategy to neutralize competitors, citing internal emails where Zuckerberg acknowledged Instagram as a 'threatening, rapidly growing network.'
• If the FTC prevails, Meta may be forced to divest Instagram and WhatsApp, which could significantly impact its ad revenue and business operations.