Meta CEO Mark Zuckerberg made a key concession at a US antitrust trial on Tuesday, saying he bought Instagram because it had a \u201cbetter\u201d camera than the one his company was trying to build for flagship app Facebook at the time.<\/p>\n
The acknowledgement appeared to bolster allegations by US antitrust enforcers that Meta had used a \u201cbuy or bury\u201d strategy to snap up potential rivals, keep smaller competitors at bay and maintain an illegal monopoly.<\/p>\n
It came during Zuckerberg\u2019s second day testifying at the high-stakes trial in Washington, in which the US Federal Trade Commission (FTC) is seeking to unwind Meta\u2019s acquisitions of prized assets Instagram and WhatsApp.<\/p>\n
The case, filed during President Donald Trump\u2019s first term, is widely seen as a test of the new Trump administration\u2019s promises to take on Big Tech companies.<\/p>\n
Asked by an attorney for the FTC whether he thought fast-growing Instagram could be destructive to Meta, then known as Facebook, Zuckerberg said he believed Instagram had a better camera product than Facebook was building.<\/p>\n
\u201cWe were doing a build vs. buy analysis\u201d while in the process of building a camera app, Zuckerberg said. \u201cI thought that Instagram was better at that, so I thought it was better to buy them.\u201d<\/p>\n
Zuckerberg also acknowledged that many of the company\u2019s attempts at building its own apps had failed.<\/p>\n
\u2018Building a new app is hard\u2019
\n\u201cBuilding a new app is hard and many more times than not when we have tried to build a new app it hasn\u2019t gotten a lot of traction,\u201d Zuckerberg told the court.<\/p>\n
\u201cWe probably tried building dozens of apps over the history of the company and the majority of them don\u2019t go anywhere,\u201d he said.<\/p>\n
Zuckerberg\u2019s testimony comes as Meta is defending itself years after the release of damning statements plucked from Facebook\u2019s own documents, like a 2008 email in which he said: \u201cIt is better to buy than compete.\u201d<\/p>\n
The company argues that his past intentions are irrelevant because the FTC has defined the social media market inaccurately and failed to account for the stiff competition Meta has faced from ByteDance\u2019s TikTok, Alphabet\u2019s YouTube and Apple\u2019s messaging app.<\/p>\n
The FTC accuses Meta of holding a monopoly on platforms used to share content with friends and family, where its main competitors in the United States are Snap\u2019s Snapchat and MeWe, a tiny privacy-focused social media app launched in 2016.<\/p>\n
Platforms where users broadcast content to strangers based on shared interests, such as X, TikTok, YouTube and Reddit are not interchangeable, the FTC argues.<\/p>\n","protected":false},"excerpt":{"rendered":"
Meta CEO Mark Zuckerberg made a key concession at a US antitrust trial on Tuesday, saying he bought Instagram because it had a \u201cbetter\u201d camera than the one his company was trying to build for flagship app Facebook at the time. The acknowledgement appeared to bolster allegations by US antitrust enforcers that Meta had used […]<\/p>\n","protected":false},"author":1,"featured_media":8180,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"_links":{"self":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/8179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8179"}],"version-history":[{"count":1,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/8179\/revisions"}],"predecessor-version":[{"id":8181,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/8179\/revisions\/8181"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/media\/8180"}],"wp:attachment":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}