Overview

• Mark Zuckerberg testified for a third day in the FTC's antitrust trial, defending Meta's acquisitions of Instagram and WhatsApp against allegations of a 'buy or bury' strategy.
• Zuckerberg's attempts to settle the case included offers of $450 million and later $1 billion, far below the FTC's demand of up to $30 billion, which were rejected.
• The FTC alleges Meta's acquisitions eliminated competition and allowed the company to dominate the personal social networking market, a claim Meta disputes by citing broader competition from platforms like TikTok and YouTube.
• Evidence presented at trial includes internal memos where Zuckerberg contemplated spinning off Instagram and acknowledged its competitive threat to Meta's own products.
• The trial has also highlighted Zuckerberg's efforts to leverage political connections, including with President Donald Trump, to influence the outcome of the case.