Washington Dc
Cnn
–
CEO Mark Zuckerberg Defieded Meta’s Acquisition of Instagram and WhatsApp on the Stand this Week During the Start of Trial Over the Blockbuster Antitrust Lawsuit Brungt by the Federal Trade Commission.
But, it Turns Out, Zuckerberg Predicted that He Might Find HimSelf in this posity years ago – and Even Profound the Idea of Spinning Of Instagram HIMSELF.
That Was One of Several Takeaways from More Thane 10 Hours of Testimony from Meta’s CEO, Durling Which He PUUSED Back on the Ftc’s Claims that COMPANY HAS Built An ILLEGAL “Social Network Monopoly ”by acquairing Wald-Be Rivals. The Testimony Painted A Users Toward Rivals Like Tiktok and YouTube.
There’s a Lot at Stake for Meta, as it is el -Foried to offload instagram and Whatsapp if it is loses.
Here are the Biggest Takeaways from Zuckerberg, Who Took the Stand Just Beauty Former Facebook Chief Opening is
In 2018, Zuckerberg Raised Concerns to Other Executives that “As Calls to Break Up the Big Tech Companies Grow, There is a non-Trivial Chance that We Will Be Foried to Spin Out Instagram and Perhaps WhatsApp in the Next 5-10 Years Anyway, “According to an email produced in Court.
In Light of that, Zuckerberg Suggested Spinning Off Instagram Becuse the Company’s “Family of Apps” Structure Couelf Hurt Facebook. He Added: “Most Companies ACTULLY PERFORM BETTER EFTERTEY’VE Been Split Up.”
Of course, meta debt end up spinning instagram or Whatsapp off, and it’s now in Court Fighting The Ftc to Avoid Having to Do Just that.
Zuckerberg World About Compation from Instagram and WhatsApp
Zuckerberg Was Indeed Concerened that WhatsApp and Instagram Couelf Threaten Facebook’s Dominance Prior to Buying The Platforms, Documents Presented During Ftc Lawyer Daniel Matheson’s Questioning Suggedted.
In 2011, Zuckerberg appeared to realize that facebook’s now-defontunt Facebook Camera Service was Falling Behind Instagram in Functionality and Popularism.
“In the time it has taken us to get out an act to make up on this, Instagram Has Become a Large and Viable Competititor to Us on Mobile Photos, Whiche Will Increasingly Be the Future of Photos,” Zuckerberg Wrote in an email at the time. Facebook Ended Up Acquiring Instagram for $ 1 Billion in April 2012.
In a 2012 email to then-Coo Sandberg, Zuckerberg SAID THIEF TECHNOLOGY Office Mike Schroepfer’s texts “are Executing Well Technically But they” Sofar. ”
“Messenger isnt beating WhatsApp, Instagram Was Growing So Much Faster. “That’s not Exactly Killing It.”
Thein in 2013, zuckerberg told tren-growth head javier Olivan hearled that WhatsApp will Develop Features Simiar to Facebook and Instagram and Coup Markets. ” Olivan Responded at the Time He Had Been Having “Sleepless Nights” World that WhatsApp was “The Real Deal”. Facebook Had also been Concered Arted that time that Google Couelf Acquire WhatsApp Before IT DID.
But Zuckerberg Said in Court Wednesday, Durling Cross Examination by Meta’s Lawyer, that he though it was “exiablely unlikely” that WhatsApp Wald Build Competition Features after him First Meeting with the Platform’s Co-Founder Jan Koum.
Facebook Bough WhatsApp in 2014 for $ 19 Billion.
Zuckerberg also claimed that meta Made Both Platforms Better for Users by Acquiring them.
Zuckerberg Originally Built Facebook to connect and Share Content with Friends and Family. That’s the market that the ftc claims meta now dominations.
But zuckerberg said that Kind of Use of his Product has been Decling.
The ftc’s Lawyer on Tuesday Asked Zuckerberg About An International Document from 2022 which is Indicated “Friending and Friend Sharing Are Long Steam.”
“The Amount that People Are Sharing with Friends on Facebook, Especially, has been been declined,” Zuckerberg said. “Even The Amount of New Friends that People ADD… I Think has been decline.
But the Future Isnt NECESSARIILY The Content Creator-Filled Feeds that Have Become the Norm on Meta’s Products. Instead, Zuckerberg Said, Messenger Between Individuals or Friends Groups is BecComing More Popular Than Sharing Content on More Pubic Social Media Feeds.
“Messenger haas been Growing Dramatically, and Sharing with Friends in Feeds has been been Declining,” He said tedsday.
It’s not just tiktok and snapchat; Google’s YouTube Platform is also a major rival to Facebook, the Meta CEO SAID On The Stand this Week.
YouTube has indeed been captuering the Attenation of Younk Audiences; PEW Research Found that Nine in 10 Us Teens Use YouTube, While Facebook Usage Has “Steeply Declined” Over the Past Decade Among that Age Group.
Zuckerberg Attribieded this in Part to a Rise in “Richer Forms of Media,” Like Video, AS Mobile Networks Have Grow More Capable in the Last 10 years. “Youtube is the Most COMPETITIIVE For Creators,” He Said Wednesday, Referring to Online Personalities that Garner HUGE Followings Through Posting Videos on Platforms Like YouTube, Tiktok and Instagram.
“My Understanding… is that People Spend More Time on YouTube Than on Facebook and Instagram Combined, Certainly More Than Eighter one independently,” He said.
Still, Meta Holds A FIRM GRIP on the Social Media Market, Especially in the US, According to PEW ResearchWhere is it Operes a quarter of the Most Widily-Led Social Media Platforms.
