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Mark Zuckerberg took the stand in federal court Monday as the first witness in the US Federal Trade Commission’s antitrust trial seeking to break up Meta Platforms Inc.
The company’s founder and chief executive officer will face questions about the company’s acquisitions of Instagram and WhatsApp. The FTC is seeking to force Meta to divest those platforms, alleging the acquisitions gave Meta an illegal monopoly on portions of the social networking industry.
In initial questioning by the FTC’s lead trial lawyer, Daniel Matheson, Zuckerberg described the company’s early history and acknowledged that he rejected advice to sell the company early on because it would not be possible to compete with MySpace.
Zuckerberg went on to describe the creation of the Facebook news feed in 2006 to facilitate “real connections to actual friends.” That use is key to the FTC’s argument that the company is primarily focused on sharing information with friends and family.
Today's show features:
- Bloomberg Intelligence Senior Antitrust Litigation Analyst Jen Rie on Meta Faces Potential Breakup With Start of Antitrust Trial
- Bloomberg News Editorial Board Member Christine Harper on Volcker’s Lessons for Restoring US Credibility
- Bloomberg News Managing Editor for Global Consumer Tech Mark Gurman on Apple's Supply Chain
- We Drive to the Close with Andrew Slimmon, Senior Portfolio Manager at Morgan Stanley Investment Management
Hosts: Carol Massar and Tim Stenovec Producer: Sebastian Escobar
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