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Facebook Sought To 'Neutralize' Competitive Threats, FTC Argues As Landmark Antitrust Trial Begins
An anonymous reader shares a report: An attorney for the Federal Trade Commission told a judge that Facebook, fearing the competitive threat of Instagram posted to their social media network, acquired both as a way to "neutralize" the rival. "They decided that competition was too hard," the FTC's at...
An anonymous reader shares a report: An attorney for the Federal Trade Commission told a judge that Facebook, fearing the competitive threat of Instagram posted to their social media network, acquired both as a way to "neutralize" the rival. "They decided that competition was too hard," the FTC's attorney, Daniel Matheson, said in his opening statement in the government's antitrust case against the Meta Platforms social media empire. At stake is the potential breakup of Facebook-parent Meta, as the government has zeroed in on the 2012 acquisition of Instagram and 2014 purchase of WhatsApp.
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