Meta CEO Mark Zuckerberg wraps up testimony in antitrust case

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Meta CEO Mark Zuckerberg emphasised in federal court on Wednesday that he bought Instagram and WhatsApp because he saw value in the companies – not to take out competitors, as the Federal Trade Commission alleges in a historic antitrust trial. Zuckerberg took the stand for the third day in the trial, wrapping up his testimony as the first witness Wednesday afternoon. He took questions from Meta attorney Mark Hansen, who has argued that his client hardly has a monopoly in social media, as the FTC claims, and still faces stiff global competition.



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Meta CEO Mark Zuckerberg wraps up testimony in antitrust case


Meta CEO Mark Zuckerberg emphasised in federal court on Wednesday that he bought Instagram and WhatsApp because he saw value in the companies – not to take out competitors, as the Federal Trade Commission alleges in a historic antitrust trial. Zuckerberg took the stand for the third day in the trial, wrapping up his testimony as the first witness Wednesday afternoon. He took questions from Meta attorney Mark Hansen, who has argued that his client hardly has a monopoly in social media, as the FTC claims, and still faces stiff global competition.



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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