Meta CEO Mark Zuckerberg takes witness stand in FTC case

PTI, Dec 21, 2022, 9:35 AM IST

Mark Zuckerberg, the CEO of Facebook parent company Meta, took the witness stand Tuesday in the FTC’s effort to stop the tech giant from buying a virtual reality startup.

At issue is whether Meta’s acquisition of the small company that makes a VR fitness app called Supernatural will hurt competition in the emerging virtual reality market. If the deal is allowed to go through, the Federal Trade Commission argues, it would violate antitrust laws and dampen innovation, hurting consumers who may face higher prices and fewer options outside platforms controlled by Meta Platforms Inc.

The case, expected to wrap up Tuesday, is being heard by U.S. District Judge Edward Davila, who also oversaw the trial of disgraced Theranos founder Elizabeth Holmes and her partner Ramesh “Sunny” Balwani. Both were sentenced to over a decade in prison for their roles in the company’s blood-testing hoax.