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Lina Khan Says Facebook ‘Panicked’ — And That’s Why It Bought Instagram and WhatsApp
Summary: As the FTC vs Meta trial begins this week, former FTC chair, Lina Khan talked about the deals that saw Facebook acquire Instagram and WhatsApp.
Lina Khan, the former US FTC chairperson, stated in an interview on CNBC today that Facebook saw companies like Instagram and WhatsApp experiencing “astronomical growth, and that’s the point at which it resorted to this buy-or-bury scheme, where it if couldn’t outcompete a rival, it either bought them out or cut them off its network”. On Monday, Meta started its FTC trial, with the company’s CEO, Mark Zuckerberg, taking the stand. Meta, of course, detailed in its pretrial brief that it disagrees with the FTC, and reiterates that it believes the company does not have a monopoly.
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