## Zuckerberg Defends Meta’s Acquisitions: “I’d Buy WhatsApp Again”
Mark Zuckerberg recently spent 13 hours on the stand in a Washington, D.C. courthouse, defending Meta’s acquisitions of Instagram and WhatsApp against a Federal Trade Commission (FTC) antitrust lawsuit. The core argument of the FTC, which commenced the trial on April 14th, is that Meta acquired these apps not to improve them, but to eliminate competition.
According to a report by The Verge, Zuckerberg’s testimony centered around refuting this argument. He asserted that the acquisitions have, in fact, made both WhatsApp and Instagram better. When asked if he was “happy” about paying $19 billion for WhatsApp in 2014, Zuckerberg reportedly grinned and stated, “I’d do it again.”
The FTC’s case hinges on the idea that Zuckerberg and other Meta executives were concerned that private messaging apps like WhatsApp could evolve into full-fledged social media platforms, posing a significant threat to Facebook’s dominance. While Zuckerberg acknowledged he considered this possibility, he framed it within the context of a broader competitive landscape.
The outcome of the trial could have significant implications for Meta, potentially forcing the company to unwind these acquisitions, impacting the future of social media and the competitive dynamics of the tech industry. The ongoing trial highlights the increased scrutiny of tech giants and their acquisition strategies by regulatory bodies.