World Business Report
Why is tech giant, Meta, in court?
Apr 14, 2025
In this discussion, Joanne Hsu, Director of the Survey of Consumers at the University of Michigan, dives into Meta's monumental antitrust case and its potential to reshape the social media landscape. She explores the impact of rising inflation on consumer confidence and how it affects everyday decisions, particularly for iconic brands like Barbie. Hsu also touches on how Rory McIlroy's recent Grand Slam win could bolster golf tourism in Northern Ireland, highlighting the intersection of sports and local economies.
26:27
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Quick takeaways
- Meta's antitrust case may lead to a breakup of its social media dominance, affecting the future of competition in the tech industry.
- Consumer sentiment has sharply declined due to inflation fears, forcing shoppers to reconsider spending on discretionary items like toys and electronics.
Deep dives
Meta's Legal Battle and Social Media Monopoly Concerns
Meta faces a significant antitrust case that could potentially lead to the breakup of its operations across social media platforms like Facebook, Instagram, and WhatsApp. The Federal Trade Commission (FTC) argues that Meta's acquisitions of Instagram for $1 billion in 2012 and WhatsApp for $19 billion in 2014 were strategies to eliminate competition and solidify a monopoly in social media. In defense, Meta claims that there remains substantial competition from platforms such as TikTok and YouTube, countering the notion that it dominates the market. This case will set a precedent in regulating the tech industry and may have profound implications for the future structure of social media networks.
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