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 internal innovation struggles and market competition.
• Emails presented by the FTC reveal Zuckerberg viewed Instagram as a competitive threat and acknowledged the acquisition as a way to neutralize potential rivals.
• Zuckerberg admitted Instagram's camera app was superior to Facebook's internal efforts, reinforcing claims of a 'buy or bury' strategy to maintain dominance.
• The FTC argues that Meta's acquisitions suppressed competition, while Meta counters that the social media market is highly competitive with rivals like TikTok and YouTube.
• A ruling in favor of the FTC could force Meta to divest Instagram and WhatsApp, significantly impacting its advertising revenue and reshaping the social media landscape.