'The more daring Zuckerberg brings himself in justifying the purchase.'
All this week, Meta Platform Inc and the Federal Trade Commission (FTC) were in court to testify on the issue of monopolizing the virtual reality (VR) industry.
When giving the testimony of the Chief Executive Officer (CEO) of Meta, Mark Zuckerberg appeared boldly saying that the acquisition of the VR fitness application company Within can stimulate the development of the industry.
He explained that Within's participation in Meta could help the company become a pioneer in its category (VR fitness) and 'drive other companies to do better in the same industry space'.
It sounds optimistic given that the FTC had previously sued Meta over allegations that the acquisition would create a monopoly in the metaverse market, in addition to violating anti-competition rules.
Also stole the spotlight when FTC attorney Abby Dennis questioned Zuckerberg regarding the initial testimony given by the CEO regarding the construction of Meta's own application as opposed to the purchase of external platforms.
Zuckerberg calmly said that most companies including Google and Microsoft build their own applications for their platforms but not least some buy from outside.
His argument is that Meta focuses on communication and social interaction applications and does not plan to build each application individually, so the acquisition of Within is a different matter.
It is well known that Meta is no stranger to the acquisition of competing companies such as buying Instagram and WhatsApps.
For now the situation seems to be balanced but the advantage is directed to the FTC with Dennis revealing that Meta acquired 9 more VR companies, indicating an attempt to monopolize the industry.
