22 hours Ago By Tunahan Karakis
Summary: Mark Zuckerberg testified as a witness in the antitrust lawsuit filed against Meta by the U.S. Federal Trade Commission (FTC).
The CEO admitted that TikTok’s rapid rise has slowed Meta’s growth. If the FTC wins the case, Meta could be forced to sell Instagram and WhatsApp.Meta, which owns platforms such as Instagram, Facebook, and WhatsApp, is facing antitrust trials.
Meta CEO Mark Zuckerberg took the stand on Wednesday in response to a lawsuit filed by the Federal Trade Commission (FTC). During his testimony, Zuckerberg made some striking claims, including that TikTok slowed Meta’s growth.Mark Zuckerberg thinks TikTok slowed Meta’s growthMark Zuckerberg was the first witness to testify in Meta’s antitrust case.
During his testimony, he admitted that TikTok is a serious threat to Meta. He also said that the platform, owned by ByteDance, has significantly slowed Meta’s growth.TikTok’s rise in popularity appears to have been not just a competitive challenge but also a strategic turning point for Meta.
After ByteDance acquired Musical.ly in 2017 and merged it with TikTok, Meta stopped reporting Facebook’s individual user numbers in its user numbers. Instead, the company began using a ‘family of apps’ metric that includes WhatsApp and Instagram alongside Facebook.
The FTC’s lawsuit alleges that Meta acquired major platforms, including Instagram and WhatsApp, in an effort to create a monopoly in the tech and social media markets. If the FTC wins the case, it could force Meta to sell off those platforms. In the first week of the trial, testimony like Zuckerberg’s focused on TikTok’s rapid rise and how Meta has responded.
Mark Zuckerberg is being questioned not only about WhatsApp and Instagram but also about his past acquisition attempts. In response to an FTC attorney’s question about Snapchat during the trial, the CEO said the following: “For what it’s worth, I think if we would have bought them, we would have accelerated their growth, but that’s just speculation.”Meta’s antitrust case also reveals some of Zuckerberg’s bold ideasDuring Meta’s antitrust case, several internal company emails also revealed wild ideas that Meta CEO Mark Zuckerberg once considered implementing.
Most notably, Zuckerberg once suggested deleting everyone’s friends list once a year and starting over, due to concerns about Facebook’s declining cultural relevance.Another idea was Zuckerberg’s proposal to spin off Instagram into its own company. In a 2018 email to company executives, he said, “While most companies resist break-ups, the corporate history is that most companies actually perform better after they’ve been split up.
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