Facebook: Facebook Sought To "Neutralize"Competitive Threats, FTC Argues As Landmark Antitrust Trial Against Meta Platforms Begins

An attorney for the Federal Trade Commission told a judge that Facebook, fearing the competitive threat of Instagram posted to their social media network, acquired both as a way to "neutralize" the rival. "They decided that competition was too hard," the FTC's attorney, Daniel Matheson, said in his opening statement in the government's antitrust case [...]