Overview

• Mark Zuckerberg testified for three days, asserting that Meta acquired Instagram and WhatsApp for their product value, not to neutralize competition.
• The FTC argues that Meta’s acquisitions were part of a 'buy or bury' strategy to eliminate competitive threats and maintain a monopoly in personal social networking.
• Zuckerberg highlighted TikTok as a significant competitive threat, stating that its rise slowed Meta’s growth and influenced the company’s strategic priorities.
• Settlement talks earlier in March failed, with Zuckerberg offering nearly $1 billion, far below the FTC’s demand of $18 billion and a consent decree.
• The trial, which could lead to a court-ordered breakup of Meta, continues with additional witnesses, including former executives and industry rivals.