Meta's copycat strategy targeted in court

Meta faces an antitrust lawsuit alleging its acquisitions of Instagram and WhatsApp were anticompetitive, employing a "buy or bury" strategy. The FTC seeks to unwind these acquisitions, arguing they stifled competition and solidified Meta's social media dominance. Meta counters that these acquisitions were necessary to maintain relevance in a changing market, citing competition from TikTok and YouTube. Mark Zuckerberg testified, defending Meta's actions and emphasizing the need for adaptation. The FTC approved the acquisitions initially, but now argues the social media landscape has significantly shifted. Instagram and WhatsApp are now major revenue generators for Meta, contributing substantially to its overall success. Meta's defense highlights the finality of previously approved deals, a concern for broader corporate implications. The trial's outcome will significantly impact future tech acquisitions and regulatory oversight. Meta's recent attempts to improve its image, including board appointments, haven't influenced the FTC's stance. The case's resolution will have significant repercussions for the tech industry and antitrust law.