Zuckerberg Admits Instagram Acquisition Was Due to Superior Camera Tech in Antitrust Trial

Meta CEO Mark Zuckerberg testified in a U.S. antitrust trial on Tuesday, admitting that Meta acquired Instagram because its camera technology was superior to what Facebook was developing. This admission supports the FTC's claim that Meta used a "buy or bury" strategy to eliminate potential competitors.

Zuckerberg acknowledged the difficulty of building successful new apps, noting that many of Meta's attempts have failed. The FTC is challenging Meta's acquisitions of Instagram and WhatsApp, alleging an illegal monopoly in social media platforms.