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Instagram CEO testifies about competing with TikTok: ‘You’re either growing, or you’re slowly dying’.
“We need to adapt, and do so quickly,” he wrote in 2020.
Mosseri described the dire situation while testifying in the Federal Trade Commission’s antitrust trial against Meta, where the government alleges the company illegally monopolized the market for personal social networking services, a category that it says includes Snapchat but not more entertainment-focused apps like YouTube or TikTok. Mosseri’s testimony highlighted how much Instagram sees itself as in competition with TikTok, but it also showed that even as entertainment content becomes a larger portion of its offerings, connecting with friends is still a central part of its service — meaning it may still be a relevant market for the court to find it monopolizes. Mosseri took over as CEO when Systrom left in 2018, and he gave a third perspective on the key question of whether Meta helped grow Instagram in ways it couldn’t have otherwise, or whether it bought it to squash a nascent competitor and later deprive it of resources.
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