FTC v. Meta: the antitrust battle over Instagram and WhatsApp
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Meta calls on Walmart’s chief economist to back its antitrust defense.
University of Chicago professor John List, who previously served as chief economist at Uber and Lyft, is now on the stand to try to dismantle the FTC’s market definition of personal social networking services, and dispute its claim that “friends and family sharing” is a core use case for Facebook and Instagram. He tells the court that MeWe, a small competitor in the market Meta allegedly monopolizes, is “economically inconsequential.”
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