Reported 2 days ago
Meta's CEO Mark Zuckerberg aimed to avoid a significant antitrust trial but was hesitant to meet the Federal Trade Commission's high settlement demand. He initially offered $450 million, later increasing it to $1 billion, while the FTC demanded $30 billion. The trial highlights accusations against Meta for monopolistic practices, particularly through acquisitions like Instagram and WhatsApp. In court, Zuckerberg's past emails revealed intentions to neutralize competition and address the rising threat of TikTok, adding complexity to the FTC's case.
Source: YAHOO