Bloomberg Businessweek
Meta's Day in Court, Restoring US Credibility
Apr 14, 2025
Christine Harper, a Bloomberg News Editorial Board Member and co-author of a book with Paul Volcker, discusses lessons for restoring U.S. credibility in a shaky economy. Mark Gurman, Managing Editor for Global Consumer Tech, reveals insights on Apple's supply chain struggles with China. They dive into Zuckerberg's testimony in the antitrust trial against Meta, examining its potential impact on the tech landscape. The conversation also touches on the historical economic challenges and the importance of adept leadership in public service amidst today's inflationary pressures.
34:34
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Quick takeaways
- The FTC's antitrust trial against Meta centers on allegations that its acquisitions of Instagram and WhatsApp created an illegal monopoly in social networking.
- Reflecting on Paul Volcker's strategies emphasizes the need for sound economic policies to manage current inflation and stabilize the economy.
Deep dives
Antitrust Case Against Meta Platforms
The U.S. Federal Trade Commission (FTC) has initiated an antitrust trial against Meta Platforms, primarily focusing on its acquisitions of Instagram and WhatsApp. The FTC claims these acquisitions were executed to stifle competition, effectively giving Meta a monopoly over the social networking space. Mark Zuckerberg, as the company’s founder and CEO, is pivotal to the case, as he will face scrutiny regarding internal communications that suggest intentions to eliminate competition. The outcome of this case could reshape the landscape of social media, influencing both competition and consumer choices.
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