00:00The U.S. Federal Trade Commission, FTC, has filed a landmark antitrust lawsuit against Meta,
00:05the founder of Facebook. The U.S. government argued that Meta illegally created a monopoly
00:10by acquiring Instagram in 2012 and WhatsApp in 2014, thereby eliminating competitors from the
00:17market. The government's primary goal was to forcibly separate Instagram and WhatsApp from
00:22Meta and make them independent companies. However, a U.S. federal court issued a surprising ruling
00:27rejecting this request. The judge stated that despite Meta's past acquisitions,
00:32giant competitors like TikTok and YouTube have risen to prominence, and therefore,
00:36a complete monopoly cannot be said to exist in the market. According to the ruling,
00:41Instagram and WhatsApp will remain under Meta's umbrella for now.
00:45The U.S. government's appeal process against this decision is ongoing. The U.S. Department
00:50of Justice and more than 30 states have filed a massive lawsuit against ticket sales.
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