4.2 • 5.3K Ratings
🗓️ 17 April 2025
⏱️ 20 minutes
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0:00.0 | This week, the billionaire CEO of META, Mark Zuckerberg, was on the stand in federal court. |
0:11.9 | He was there to testify in a federal trade commission lawsuit against his company. |
0:17.9 | Meta CEO Mark Zuckerberg began his testimony in one of the most highly anticipated trials in the tech world. |
0:24.6 | In a blockbuster antitrust trial to defend his social media company. |
0:28.6 | META is accused of trying to eliminate competitors. |
0:31.6 | In a trial that could break up his social media empire. |
0:35.6 | The FTC is saying that META, formerly Facebook, is a monopoly. |
0:41.3 | The case was first filed back in 2020, and it's finally gone to trial. |
0:45.3 | At its heart, our two acquisitions that the company made over a decade ago, of Instagram and WhatsApp. |
0:52.3 | The Federal Trade Commission sued META for being a monopoly, |
0:58.2 | and they alleged that the company preyed on small competitors |
1:02.9 | and bought them, took them off the market, |
1:07.2 | before they could emerge as very big competitors to them. |
1:11.5 | That's our colleague Dana Madioli, who covers tech investigations. |
1:15.9 | If the FTC succeeds, there's a possibility that META would have to divest these companies, |
1:22.7 | which would be very unusual. |
1:25.0 | I mean, it could mean that they have to sell Instagram and WhatsApp. |
1:30.9 | Meta says that the FTC's case ignores how people use technology today, and that the company |
1:36.4 | had legitimate business reasons for buying the platforms. This case is coming at a moment when a lot of |
1:42.3 | large tech companies, like Apple and Amazon, are facing antitrust lawsuits. |
1:47.4 | Just today, a federal judge ruled against Google, saying that the company acted illegally to maintain its dominance. |
1:54.8 | You know, there's been a bipartisan effort in recent years on antitrust. |
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